Thoughts on Tesla (TSLA)
As I have watched TSLA over the last couple of days, I have seen its typical sideways pattern. The week shows a loss of 0.91%. That is unlike TSLA and especially after a 32% month and an 88% three month stretch.
Here are my thoughts. If we typically see 20 – 30% months for TSLA, then it is about time for another run. Sideways is not something TSLA does for very long.
Today there was a recall announcement. Actually, that came after hours last night. The two days prior the stock was basically flat or down. Monday brought us a nice run.
What’s next? I think tomorrow, Friday, will see the stock break out with reasonable gains. My thought is we will see something in the range of $860 – $875 at the close. Keep in mind that this stock is a darling of many of the Robinhood traders. They are itching for a run. As some of them took profits over the last few days, they will start to move in at the recently discounted price.
One last note, Monday is Martin Luther King Jr.’s Day. The market will be close. People will want their runs prior to a three day layoff. My thought is that TSLA will run tomorrow (1/15/2021).
