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.
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