Wow. What a MOVE today. To be honest I did not see that coming. Not today anyway. A full Green Candle Breaking out above the Bull Flag has set up a whole new trend. My new Price target is $230. All signals remain as a Strong Buy. Tesla has too much going on at the moment to be caught out of the shares. (A) Sunday April 2 releasing much more positive Q1 Production numbers. (B) The Trip to China's sole purpose is to start discussions to open a second GigaFactory. (C) April 24th Q1 Financials being released will exceed expectations... Never bet against Elon Musk.
Comment:
So I've been analyzing this all day long mulling it over in my head and 170 million shares traded likely involved a lot of Shorts covering however with that kind of volume usually there's a leak of info and the street liked what they were hearing and so started to jump in. Now granted there will be profit taking this week especially by Thursday as markets are closed on Good Friday so Monday around 10:30 - 11am after a small bounce back from an early morning retracement is what I'm thinking will happen with a close lower around $202. Overall the media is mixed as to whether this was good or bad news overall and for me it's Neutral and that may allow the Bears to walk back in and sell short one again. That's the one thing Tesla is Famous for is being able to trade the swings. Anyway, we'll see how this plays out soon enough. As it sits right now though all of my indicators both on and off this chart currently remain Bullish.