To The Moon

A group of Tesla shareholders which includes New York City Comptroller Brad Lander is calling for investors to vote against Elon Musk's $46 billion pay package. The group of shareholders wrote to other Tesla holders arguing that the electric-vehicle maker had governance issues. They said that the company's board was too close to Musk and had failed to properly evaluate the pay package. The letter calls for shareholders to reject the reelection of two directors, Kimbal Musk and James Murdoch, arguing that they have particularly close personal ties to Musk. Shareholders are set to vote on Musk's pay package and other proposals, including moving its incorporation to Texas, on June 13. Tesla's massive compensation package for Musk was originally proposed and approved in 2018, but was struck down by a Delaware court in January. Tesla has since re-proposed the pay package, which is currently valued at around $46 billion, in its proxy filing and has looked to convince shareholders to support the measure. I feel that we need to look beyond this pay package episode and focus on the potential technicals on Tesla. In this article I would like to show you why $Tesla Motors(TSLA)$ stock price have been gaining tractions and why I think this is the time to buy Tesla now. Tesla Showing Ascending Wedge and Trade Close to 50-day Period From the chart below, there was a chance to buy into Tesla on 16 May 2024 last Thursday, and since then we could see Tesla trading range-bound. Tesla is trading near its 50-day period which I personally think that this is a good chance to buy into it. Today we are seeing pretty nice demand (buying) volume, giving Tesla a more than 2% gain. Tesla KDJ is forming an Upside and with MACD crossover forming too As mentioned in the previous section, we are seeing Tesla trading near the 50-day MA period and in the following chart, Tesla is showing that MACD crossover is forming. Another confirmation that I would use is the KDJ, where Tesla is enjoying the upward movement with the J value not showing any potential SELL signal. I would think this is a good time to buy into Tesla. Tesla RSI Divergence Is Bullish If we look at the signal, we are seeing an oversold on the RSI indicator, and we could see that Tesla has formed a lower low and higher low in RSI and price action. This has given confirmation that Tesla is in a bullish divergence. Summary By looking at the different indicators for trend, signal and confirmation I would think that the confidence for Tesla to gather an upside or bullish divergence is pretty strong. I personally feel that this might be a good time to look into buying Tesla shares. Appreciate if you could share your thoughts in the comment section whether you think this is a good time to buy Tesla shares? @TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts. Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.