After a recent consolidation along its 20 day moving average, Tesla (TSLA) closed at a new all-time high today.
As you can see from the daily and weekly charts, the runaway move started in April when TSLA broke out above the $40 level on large volume (over 7 times its daily avg. volume). TSLA soon consolidated that move and continued higher, amidst a stream of exciting announcements and a growing wave of "Elon mania" (see recent interviews, videos below), to its most recent prior peak in late May.
As of today, TSLA is up over 165% from its April 1 closing price.
After noting some weakness in several leading stocks (including TSLA) on StockTwits + Twitter late last month, I soon realized that I was wrong on TSLA. What I mistook for topping action was actually just a pause before this latest, new high. The uptrend continues...
Elon Musk discusses creativity, entrepreneurship and a new mode of travel (hyperloop) at Pando Monthly.
TED chats with Elon Musk: The mind behind Tesla, SpaceX, and SolarCity.
Disclosure: as of this posting, I have no position in TSLA (and I have had no prior positions in TSLA) and am watching from the sidelines. This may change at any time. If any follow-up posts coincide with my holding a position (long or short) in the stock or in TSLA options, this will be noted within said posts.
Subscribe to Finance Trends by email or get new posts via RSS. You can follow our real-time updates on Twitter.
As you can see from the daily and weekly charts, the runaway move started in April when TSLA broke out above the $40 level on large volume (over 7 times its daily avg. volume). TSLA soon consolidated that move and continued higher, amidst a stream of exciting announcements and a growing wave of "Elon mania" (see recent interviews, videos below), to its most recent prior peak in late May.
As of today, TSLA is up over 165% from its April 1 closing price.
After noting some weakness in several leading stocks (including TSLA) on StockTwits + Twitter late last month, I soon realized that I was wrong on TSLA. What I mistook for topping action was actually just a pause before this latest, new high. The uptrend continues...
Elon Musk discusses creativity, entrepreneurship and a new mode of travel (hyperloop) at Pando Monthly.
TED chats with Elon Musk: The mind behind Tesla, SpaceX, and SolarCity.
Disclosure: as of this posting, I have no position in TSLA (and I have had no prior positions in TSLA) and am watching from the sidelines. This may change at any time. If any follow-up posts coincide with my holding a position (long or short) in the stock or in TSLA options, this will be noted within said posts.
Subscribe to Finance Trends by email or get new posts via RSS. You can follow our real-time updates on Twitter.