Tesla Inc. (TSLA) has gained roughly 53% since the election, making it the second-best performer in the S & P 500 since that time. The rally has been meaningful from a technical perspective, marking a bullish shift with long-term implications. In June , we highlighted a bullish technical setup for Tesla that supported a counter-trend rally. Now, the rally in TSLA is in line with the primary trend following a major breakout on the chart last month. TSLA’s postelection rally resulted in a breakout above major trendline resistance last month, sending the stock to new 52-week highs. The upmove has resulted in a decisive upturn in the monthly MACD, which is a bullish indication for the next several months, affirming that a cyclical bull…
