viewTesla Inc

Tesla Inc shares headed towards vital $250 mark, but they've been there before

Shares in Tesla found support in the $240-260 region twice in 2018.

candlestick chart
The stock is trending down into the possible point of resistance

Tesla Inc (NASDAQ:TSLA) shares traded down another 2.1% to US$269.49 overnight, continuing their descent from around US$380 in early December 2018.

With many Australian based fund managers now running international equities portfolios, Tesla Inc is very much in play, both as a long and as a short.

A number of long-short portfolio managers in Australia have revealed Tesla Inc as being in their short portfolio, including L1 Long Short Fund Ltd (ASX:LSF).

It has been a painful stock in short portfolios but over the past three months, the stock has been in steady decline, rewarding those short.

The stock bounced off around $250 twice in 2018

Shares in Tesla hit their all-time high of $389.61 in September 2017 and bounced around the $300s until late-March early-April 2018.

The stock dropped off during that period and consolidated for three days between $244 and $266.

Shares proceeded to run back up to around $370 in June 2018 and nearly made a new all-time high in August 2018 when they hit $387.

Once again, the stock was tested in October 2018 when it spent around two weeks trading between $247 and $282, but again it rallied.

Tesla shares were back at $379 in December 2018 and once again they have fallen back making this an interesting coming period for the stock.







Quick facts: Tesla Inc

Price: 1208.66 USD

Market: NASDAQ
Market Cap: $224.18 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Electric vehicle sales to accelerate following coronavirus pandemic

Roskill analyst Jose Lazuen tells Proactive London's Andrew Scott severe falls were expected in EV sales but that European and Chinese policies coupled with consumer preferences have shown them to remain strong. He adds that policy is going to favour and push EV sales in certain jurisdictions...

1 day ago

2 min read