Why a Turnaround for Tesla Could Be Here Sooner Than Later

 
   
     

Why a Turnaround for Tesla Could Be Here Sooner Than Later
 
 
Hey traders!

It’s no secret that Tesla (TSLA) has been in a big downtrend for most of the year. 

It’s down almost 30% year to date through Monday and hitting lows around $175 a share not seen since May 2023.

But the stocks’ Relative Strength Index reading has been on the rise, so a turnaround could be right around the corner… 👀

TSLA’s relative strength has risen off a low of 17.43 to more than 33. In fact, RSI hasn’t been in oversold territory since early February. 

Per MarketWatch: 

 
 
This doesn’t mean it’s time to run out and buy shares by any stretch, but things are bound to start looking up sooner or later. 

Either way, we can trade Tesla’s ups and downs, and we’ve been doing just that, crushing it so far in 2024 after another two trade wins last week, including a bonus play I sent out on Friday!

Check out this Tesla (TSLA) chart with my Master Indicator…

 
 
We got a nice strong pop of 3.9% in shares of Tesla on Monday, which I gave out as a bonus trade Friday for members of Perfect Tesla Trade…

Tesla also saw a nice pop after a pretty steep post-open drop on Tuesday (right side of the chart).  

If I may brag for just a second here, we’ve reeled in nine straight winners in this strategy — and we’re undefeated in 2024!

While we don’t win every trade — because that’s impossible — we do have a robust 77.3% win rate so far in 23 trades dating back to July 20, 2023! 

The average return including winners and losers is 20.41% with a profit factor of 2.9 in an average three-day hold time. 

I couldn’t be happier with how things are going for us in this strategy. We’ve remained patient and been hitting at a 77.3% accuracy rate — I’ll take that all day!

If you’re not yet a member of Perfect Tesla Strategy, simply go here and we’ll get you set up!

Until next time…


The team at Lance Ippolito Trading

Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators and scammers. 

You can only find him on his personal YouTube Channel — smash that Subscribe button! https://www.youtube.com/@LanceIppolito

And in his private Telegram channel​: https://t.me/+-gVwEIwGJhplMTgx 

*The information in this article is for educational purposes only and does not constitute financial advice. Trading involves risk and is not suitable for everyone.
Disclaimer:

The material in this document is for informational purposes based on our proprietary research. It is not an offering, specific recommendation, or a solicitation of an offer to buy or sell any securities mentioned or discussed herein. 

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Due to the timing of information presented, any investment performance reflected within this document may be adjusted after the publication and distribution of this material. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, be equal to any corresponding indicated historical performance levels or be suitable for your portfolio. 

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