Keep an eye on Tesla (TSLA).
After gapping from about $240 to $191,25, the EV stock is starting to pivot higher. It’s also over-extended on RSI, MACD, and Williams’ %R. From its current price of $218.51, we’d like to see it refill its bearish gap around $240 initially.
Better, if you pull up a two-year chart, you can see that every time RSI, MACD, and Williams’ %R get this oversold, the stock pivots higher shortly after, which is slowly starting to happen now.
We also have to consider that a good deal of negativity has now been priced into the stock.