Don't Ignore This Chart!

Aroons Cross to Trigger a Signal in Tesla


Tesla (TSLA) gapped down and fell sharply in early October, but ultimately held support from the July low and rising 200-day moving average. The stock moved higher the last four weeks and surged above the September trend line with a 3+ percent gain on Tuesday. Also notice that Aroon Up crossed above Aroon Down to trigger a bullish signal. Traders can mark support at the early November low and 200-day. You can read more about the Aroon indicators in our ChartSchool. 

Click this image for a live chart. 

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus