is the best performer in the Nasdaq-100
over the last three months, up more than 40%. The big rally came on signs the electric car maker has finally corrected its manufacturing problems. That reduced bankruptcy/credit risks. More importantly, it cut the need for raising more capital via dilutive stock offerings. The result was a big short squeeze that punished the bears.
followed the run with a shallow pullback about two weeks ago and held its ground. That pushed the Stochastic
oscillator into the same deeply oversold territory that marked bottoms in June and August.
Traders may look for the bulls to remain in the driver’s seat as long as TSLA
stays above those recent lows around $325, with the potential for a race toward the old highs around $380-390.