This electric car company is expected to grow by triple-digits next year.
Tesla, Inc. (TSLA)
From Shortex Market Letter
Tesla is the designer, developer, builder, and seller of electric cars (EV) in addition to energy and battery storage. The company offers its products through the network of Tesla stores, galleries and through the Internet globally.
Since January 2020 when I wrote about TSLA, it has currently been included in the S&P 500 Index. Belonging to such a prestigious benchmark normally required an accumulated profit over four consecutive quarters. Inclusion in the S&P 500 has been manifested by its performance from 403.42 to a high of 1,027.48.
TECHNICAL PICTURE
TSLA exited Death Cross pattern in Nov. ’19 (190-260). Reversal rocketed though Jan Feb ’20 (400-433) to (450-550) gapping up (600-700) to repeated upped gap (800-900) to intraday high of 900. Correction/retraction with market’s sell-off on March 16, 2020 to (300-400) area since it has ascended (400-550) gapped up (580-660) to (700-760) to (842-910) to high of 1,027.48.
Price as of Jan-20: 403.42
Price as of June-20: 1,027.48
RETURN: 1,547%
TODAY’S PRICE: $963.22*
52 week high: 1,027.48, 52 week low: 211.00
Market Cap: $179.05B, EPS: -0.81, Beta: 1.17
RECOMMENDATION
BUYING RANGE: 840-1,000
NEAR TERM OBJECTIVE: 1,350
INTER MED OBJECTIVE: 1,680
STOP LOSS: 740
*Price as of intraday 06/24/20
Joseph Parnes, Shortex Market Letter, shortex.com, 800-877-6555, June 26, 2020