Tesla – [ πŸš€πŸš€ Shot Over $600 In Just Over A Week, More Upside? ]

8th December, 2020, 5:08 PM

Tesla – [ πŸš€πŸš€ Shot Over $600 In Just Over A Week, More Upside? ]Tesla 8th Dec 2020

Chart source: Tradingview.com

A quote from Goldman Sachs “ GS upgrade Tesla, says the stock has massive upside of over 30% ” This was reported last wednesday when it was trading around $560 and just last night Tesla came close to $650! πŸ˜€

We have seen close to a 40%Β rise in price since we posted but is this it for Tesla?? We think not yet. The upside for Tesla is still possible.

  1. Funds still have to buy in before Tesla is added to the S&P500 before or on 21st Dec. See our previous post for more details.
  2. Shortist will be pressured to cover if price continues to move up which will give the upwards move a push up.

Tesla has surpass our $600 target which is not surprising given how bullish the momentum is. From the charts, $650 seems like a resistance but if the bulls continue to charge on, we might see a push even to $700. Remember, we mentioned in our post thatΒ  tesla is a tough stock to trade and we prefer to be invested in it rather than taking the spikes in volatility.

Yours

Humbly

Kelwin&Roy

 

 

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