That’s just a breakout from a downward trendline, IMO, not a flag/pennant. And usually the measured move is taken from the low ($540), not from the breakout point.
But it’s a clear breakout, and feels like the real deal so far. Hopefully the pending big news (x2) doesn’t derail it. And for all we (or I) complain about the macros, they have to get an assist for today. TSLA was especially buoyant, but the rising tide was nice too.
There’s still a lot of ground to make up, though. The QQQ needs +6% to get back to its ATH, while TSLA needs 35% (!).
Edit: spoke too soon on the macros. What’s with that close, Qs?