📈 TSLA Squeezing Shorts?

Tesla looks poised for a move.

Tesla Clawing Back Losses

Yesterday Tesla stock rose nearly 12% as it begins clawing back losses from the last few months.

Particularly, the volume is noteworthy. The stock is seeing large spikes in buying, the likes of which we have not seen in a long time.

Spotting the Bottom

The Alpha Chasers Community got involved in TSLA in the $230s.

Here is what we were looking at to spot the potential turn:

Our primary tell was the RSI on the 4-hour chart.

You can see that every time we reach an RSI of 30 or below, we tend to bounce (whether that bounce is long-term or short-term).

Given that the stock dropped 55% from its peak in a very short amount of time, we decided to get involved with a tight stop, knowing that a bounce could be on the way and that we may never see these levels again on the stock.

Above are my next targets for the stock for those that are already in the trade or looking to add a position.

I walk through the stock, including how Musk has shorts trapped right now, here: