Stock appears ready to break above its all-time high at $327.66. I expect to see Tesla Inc (NASDAQ:TSLA) in the 340-360 target range short-term, but would not be surprised to see it above these levels by the end of this year. After a big price-volume surge in late March, the stock has consolidated in the last 2 months in the 290-330 trading range, which looks like it is ready to be broken.
The stock jumped $8.31 on Friday or 2.62%, on high volume, closing near their highest level in over two weeks, which is another indication we could see further advance in this stock. Daily technical indicators are in bullish zones. All five EMAs are rising and the stock is trading above them. In a bull market, the strategy in this particular case should always be to hold current positions with a trailing stop-loss.
This is a guest post by António Costa, acclaimed trader and the popular author of AC Investor Blog. All views and analysis belong to the author.
For the Social, Analyst and Sentiment perspective on TSLA and other stocks download our iOS or Android app.
