Tesla Is Shifting To A Higher Gear

After a sharp move down following a disappointing earnings report in November, Tesla has been in recovery mode. Monday’s surge on strong volume may have been a turning point.

The MACD is on a new buy signal, while money flow remains strong. I like the relative strength, too. The steep slope indicates that this high beta name may start performing better than the market; it could test the 36 area before too long. The bullish W is also a sign that the bottom may be in.