hello and welcome back to this edition of daily actives brought to you by bootleg macro I'm Dustin we're looking at Tesla once again and look at this price this thing had quite the day you're seeing red lettering with a white background that means this thing has three standard deviations above its mean and if you've watched any of my previous videos which I encourage you to go watch my videos from last week and the week before this is exactly what I expected and the reason why I expected it for Tesla to start to break out and I'm going to cover this we'll get to it but it's the volatility the volatility is doing exactly what it should the price is moving at 290 we are above the five day moving average above the 20-day moving average we are seeing volume return we are seeing that this is getting a little overstretched we are what 17 oh my God we're at 24 above the 2020 moving average here and it's still within a random distribution this thing can easily over 300. I don't know when I don't know how but it can definitely get there we're up 3.2 percent today we're up seven and a half percent five days 13 in 15 days 13 in one month 60 in three months and 102 in six months we have on the short term and go long on the intermediate that go along on the longer term and go along this is to be believed we've now flipped bullish in the short term bullish on the intermediate term and bullish in the longer term I love what I see here in Tesla and the thing that's most inspiring to me is that we got out of this area back here where you're in like middle of June where you had incredibly overbought conditions in Tesla and now we're back at the point we're back around that 50 level which again if you go back and watch my videos in the last week you'll see that I was commenting on the fact that when we're back in June it was incredibly overbought and now that we're close to 50 this is a great place to go along you've seen that we're getting another Rising Bull which if you look we got a falling bear on June 22nd now I'm not saying Tesla necessarily went down but it didn't really go anywhere and now that we have a Rising Bull again I actually want to look at the signals here what's nice too is it looks like we are starting to get a kind of a a breakout in terms of the we're getting kind of a war between the bullish and Bearer singles you see that we have three of the key three and we only have one of the bear Q3 so that shows me that we're going to see some very good movement here in Tesla this chart just looks absolutely beautiful I'm not a big Trend lens guy but I can just see this thing as holding its levels it's breaking out to a a nine month High probably a full year high we are coming off of levels where we can get much more bullish from here too we have a lot more bullishness to see inside of Tesla the volume is starting to return it is not yet above its 15 day moving average the volume but we're at 131 million shares traded today this is just a random day in Tesla history you can see that now the volatility and this is what I was talking about so the reason why I believe in the move in Tesla was because the volatility has been falling since the middle of June but this blue line which is the correlation to price had started to slightly go negative when it when started to go negative was it looked like it started to go negative on the 26th 27th so the 27th 28th of June which if we look this is probably back in here where it started to go negative the volatility the correlation but the volatility was also going negative and that's when the price starts to slowly just creep on its way up this is the type of move you're looking for because this is the move you can trust we're back at the top of the range it looks like the range is starting to flatten out and right now I see that we could definitely go higher I mean I'm not sure how high how far how fast anything like that I'm just looking at what I see in my own individual setup and I would feel very comfortable going along Tesla right now that's just what I personally think for my own account I don't have any position I don't plan on taking any position but I'm very very interested to see Tesla for the next few days here up 3.2 percent on that kind of a market cap but tell me what you think in the comments below are you long are you sure do you like it do you love it is this even a good review before you go subscribe to the new high newsletter we give you 25 plus stocks breaking out every single week for free Sundays at 9am to your inbox go get you some I'll talk to you soon
