🏆 Today's Chart of the Day was shared by Alfonso De Pablos (@AlfCharts).
- Tesla ($TSLA) notched its highest weekly close on record last week and followed it up today with its second-highest daily close.
- As Alfonso points out, the stock is exhibiting a textbook fractal setup, having formed well-defined bases across the daily, weekly, and monthly timeframes.
- Given Tesla’s roughly 20% weight in the Consumer Discretionary ETF ($XLY), a breakout would likely act as a meaningful tailwind for the broader sector.
The Takeaway: With bases forming across all major timeframes, a breakout in Tesla would signal renewed leadership from one of the market’s most influential stocks, and an overall bullish development for the Consumer Discretionary sector.
