While Tesla’s (NASDAQ: TSLA) stock performance in 2024 may not have met expectations for investors, zooming out reveals a potential bright spot: a strategy that has delivered an impressive 117%% return over the last two years just presented an entry signal.
This strategy involves initiating a short position when a one-day MACD cross indicates a downward movement and closing the position when a subsequent cross signals an upward trend.
This method has produced significant results over the last two years. It boasts a return of 117%, a 71% win rate, and a 6.82% return per position.
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How to set up this TSLA stock strategy?
As you approach entry conditions, it is crucial to develop a trading strategy grounded in a predefined set of criteria thoroughly examined on a candlestick chart set to a daily time frame. This strategy dictates initiating a short position upon detecting a bearish daily MACD cross.
Regarding the exit strategy, a slightly different preset is employed upon the appearance of an upside MACD cross on the price chart.
TSLA stock price chart
As of the close on April 17, the current price chart positions TSLA stock at $155.45, reflecting a loss of 1.06%% in the latest trading session. Over the past five days, TSLA shares have fallen by 9.90%.
Since the start of the implementation of the mentioned strategy two years ago, Tesla stock has slumped by 53.60%.
While this strategy has yielded significant returns, investors must consider the recent performance of TSLA shares, which have plummeted by a staggering 37% since the beginning of 2024.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
