Very important news was reported here along with earnings: In the conference call after earnings, Elon Musk said 'there is no problem with demand for the Model-X', the next generation gull-wing SUV electric vehicle. Imagine that problem: Tesla is "supply constrained" and not "demand constrained". Investors will continue to awaken to the potential of Tesla and short-sellers will slowly have fewer and fewer reasons to stay short shares, then the stock ought to steadily grind higher relative to the industry and the overall market.
Earlier this week, given the weak overall market environment, I was suggesting to buy dips in TSLA to 230. However, the market continued lower and TSLA has ground slowly higher, tacking on 1% roughly each day. The relative strength is SO OUTSTANDING that in hindsight it may be the biggest signal we will ever see in any stock chart. Now the last four days trading range are ROCK SOLID SUPPORT for a long time. I will make a new chart if TSLA breaks key support.
This is very likely the beginning of a long and steady ride higher in TSLA to the 300-400 level and a market cap of $35-$40 billion.
Tim 243.82 last (it was 241 as I began putting this chart together).
Earlier this week, given the weak overall market environment, I was suggesting to buy dips in TSLA to 230. However, the market continued lower and TSLA has ground slowly higher, tacking on 1% roughly each day. The relative strength is SO OUTSTANDING that in hindsight it may be the biggest signal we will ever see in any stock chart. Now the last four days trading range are ROCK SOLID SUPPORT for a long time. I will make a new chart if TSLA breaks key support.
This is very likely the beginning of a long and steady ride higher in TSLA to the 300-400 level and a market cap of $35-$40 billion.
Tim 243.82 last (it was 241 as I began putting this chart together).
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