Asset Watch
Thursday, March 28, 2024
Supporting the bull case, the barrage of analyst downgrades has had a lesser impact from a momentum perspective. Though Tesla surpassed its February daily closing low in March, its daily RSI rose from roughly 24 to 28. This positive divergence means that downside momentum has weakened recently, which is often a precursor to reversals.
Similarly, Tesla ended the Mar. 26 session above its 10-day moving average. Despite the bullish milestone being quite hit-and-miss over the last few months, it’s still a solid indicator of short-term momentum.
So, has all the bad news been priced in, or does Tesla see $150 before it sees $225?