The last time TSLA split its stock, the stock ran up about ~150% to its relative peak (actually it's all-time high). This is just anecdotal but the saying goes "history doesn't repeat itself, but it often rhymes".
My reasoning is based on the fact that now this opens up the ability for more people to trade options and buy the stock outright (yes, there are still brokers that don't allow fractional shares). I believe this increased volume and paper in the name will result in positive momentum.
I'm not sure its going to go another 150% because that would be insane but I just copied and pasted for the sake of comparison and seeing where we'd end up. $740 TSLA post split.
There's also a sort of cup and handle that has formed and could make for a big, sudden move. The stochastic RSI is in the middle of a bullish cross, with the 20 DMA cutting through the 200 DMA with the 50 DMA about to break through the 100 DMA. Momentum appears to be towards the upside.
My reasoning is based on the fact that now this opens up the ability for more people to trade options and buy the stock outright (yes, there are still brokers that don't allow fractional shares). I believe this increased volume and paper in the name will result in positive momentum.
I'm not sure its going to go another 150% because that would be insane but I just copied and pasted for the sake of comparison and seeing where we'd end up. $740 TSLA post split.
There's also a sort of cup and handle that has formed and could make for a big, sudden move. The stochastic RSI is in the middle of a bullish cross, with the 20 DMA cutting through the 200 DMA with the 50 DMA about to break through the 100 DMA. Momentum appears to be towards the upside.
