The stock has been consolidating this week. There are different reason for consolidations, but one way of looking at it is that it is too expensive to buy yet too valuable to sell. Also, the market has stalled.
Clearly it is stuck in a trading range this week. Volume is low due to holiday coming. This means if you are a day trader who does 50 or more trades a day as I sometimes do, you should have figured out a few days ago the flow and action has changed. I hate low volume. The house definitely has the edge and TA and charting is weak.
This morning shorts have the edge with this stock mostly because the market is down. But I think no matter what the market does, Tesla will close green or close to it.
Then on Tuesday and Wed. it challenges 170 and then I think it goes higher.
Every day that goes by, the value of Tesla Motors increases. So as long as we are stuck in this trading range, the odds improve for the Bulls and decrease for the Bears.
The latest news regarding Norway Supercharger stations should be a wake up call to shorts as well as those on the sidelines. It should, by now, be blatantly obvious to everyone that Tesla has already begun aggressively executing the roll out Model S beginning in Norway. Not only do the Europeans LOVE Tesla, they NEED Tesla. Travel distance is much shorter there and the price of fuel is much higher.
Finally, the battery issue, in my opinion, is a non issue for the next two years. And of course, Mush will then has the following years worked out.
Thanks for all the nice replies.
Were we were all surprised by the intensity of this close? But in hindsight (which every dog has), 1/2 hour before the close the stock broke through several medium and long term trend lines with volume. But more importantly the huge short positions could not afford to let it get away from them.
After several days of failed breakouts, even I was selling into it so I could lighten my load over the weekend. But then putting everything together I realized the rally would not relent, and jumped on it.
What a day!