With TSLA, backtesting the overbought and oversold signals of the RSI (especially the 80/20) shows it's been pretty reliable in providing buy and sell signals over a longish timeframe.
Trading using the RSI alone is generally thought of as being a bad strategy, but with a couple of confluent signals it could be pretty useful here.
Some stocks seem to favour the RSI more than others.
We could also see some divergence (which I need more time to learn properly!)
I'm learning Technical Analysis and how to trade generally, but this one seems like a strong signal to watch for this stock.
Of course these types of signals would probably work much better while the stock market is generally strong.
I'm always open to education, criticism or ideas!
Trading using the RSI alone is generally thought of as being a bad strategy, but with a couple of confluent signals it could be pretty useful here.
Some stocks seem to favour the RSI more than others.
We could also see some divergence (which I need more time to learn properly!)
I'm learning Technical Analysis and how to trade generally, but this one seems like a strong signal to watch for this stock.
Of course these types of signals would probably work much better while the stock market is generally strong.
I'm always open to education, criticism or ideas!