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TA Challenge: OBV, forecast market moves & spot reversals
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3 Steps On-Balance Volume (OBV) for TSLA

Hello Mooers,

Welcome back!
On today's topic, we will be using the 3 steps on-balance volume (OBV) for $Tesla (TSLA.US)$ , which was voted 1st in our survey.

Let's begin by using the picture below.
3 Steps On-Balance Volume (OBV) for TSLA
Step 1: Find any candlestick in the price chart that interest you.
3 Steps On-Balance Volume (OBV) for TSLA
Notice that we pick a red candlestick as we would like to know if the stock price will be going down or not.

Step 2: Draw a straight vertical line across the stock chart & the OBV indicator.
3 Steps On-Balance Volume (OBV) for TSLA
Step 3: We look at the OBV indicator and observe the trend.
3 Steps On-Balance Volume (OBV) for TSLA
Notice that it is showing us a rising trend.

Indeed! The stock price went up in the next few days!
3 Steps On-Balance Volume (OBV) for TSLA
That's all for today!

Please give a like if you find this example useful, and thank you for your support!

Before you go to my next post, please remember to vote how much you had already invested in TSLA.
Do you know: As of 20 Aug 2022, Tesla is one of the top 10 hot stocks with more AMCs increasing their Tesla position. (1546 AMCs increase their Tesla position VS 1057 AMCs decreasing their Tesla position!)

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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