Pre-earnings run setting up.
Big volume beginning to come in, mostly on up days, which I interpret as accumulation by institutions at favorable prices for a company that isn't trading at nosebleed valuations anymore & still has pretty solid growth & is a leader in their industry.
TSLA has been beaten down hard, shorts are likely to cover going into earnings to book some or all of their pretty sizable gains. Short interest not as high as I had anticipated, but could still aid in the rally.
Additionally, there was an undercut & rally on 1/6/23 that closed near highs on big volume.
Big volume beginning to come in, mostly on up days, which I interpret as accumulation by institutions at favorable prices for a company that isn't trading at nosebleed valuations anymore & still has pretty solid growth & is a leader in their industry.
TSLA has been beaten down hard, shorts are likely to cover going into earnings to book some or all of their pretty sizable gains. Short interest not as high as I had anticipated, but could still aid in the rally.
Additionally, there was an undercut & rally on 1/6/23 that closed near highs on big volume.