TSLA update

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Updated the previously published chart after the "buy the dip with a $2 stop loss" didn't pan out. With news released today about earlier than forecasted deliveries of the model-S electric car and a buy rating by Maxim Group, it made sense to update the chart and see where this chart stands.

Note how the "RISING SUPPORT OVER TIME" comments are holding true.


May 22, 2012 9:52AM EST 30.92 +2.15 TSLA            
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This rising support zone keeps identifying nice entry levels for TSLA
Tim, could you please post update on TSLA?
The rising support channel held nicely. Did anyone else buy shares in this pullback to support?
Tim, what are your expectations about TESLA business from fundamental standpoint? Do you think it is a good business to invest in?
timwest charttrader
I'm a believer that the future of the automobile is electric, natural gas, or diesel. This company appears to be the most promising as they have delivered the most compelling electric car yet. It looks great and meets the expectations of people who want to drive electric cars. The valuation of the company is a stretch, which is why I'm only looking for an advance and not for a 10-fold increase. IF they can deliver and keep running an entire years' worth of production, then they can likely lower the price and then take a large chunk of the electric car market. The market looks forward, so all I can do is to evaluate the risks and the rewards and my evaluation suggests that I want to own a 5% portion of my portfolio in this stock. If they can garner any meaningful traction, then their $3.25 Billion market cap could soar to $30 billion.
Thank you! Really appreciate your opinion in this.
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