Bullish Setup Case Study - $TSLA
Updated: Jun 16
$TSLA Daily - 2020
Starting on the left of $TSLA's chart we saw strong volume accumulation followed by a selloff. This sell off only spent a couple weeks under these EMA's before reclaiming them and ultimately breaking the downtrend. After some time chopping around, we can observe volume picking up heading into July as price begins to make new highs. This ended up leading to an outstanding 2020 performance of +736% for $TSLA relative to the S&P500's +15.6%.
With an overall understanding of sentiment towards electric vehicles, trend analysis, and volume patterns, there was a lot of money to be made in 2020 with Tesla. Now it's time to apply these same principles to help guide future trades.
Want to learn more about the topics mentioned in this article? Trend Analysis: https://www.yocumscharting.com/post/trend-analysis VCP (Volatility Contraction Patterns): https://www.yocumscharting.com/post/volatility-contraction-pattern-vcp-setup