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inthemoneystock (< 20)

Tesla Hits New All Time Highs: Is It A Short?



July 29, 2013 – Comments (2) | RELATED TICKERS: TSLA

Tesla Motors Inc (NASDAQ:TSLA) is trading at $135.12, +5.73 (4.43%). This is a new all time high for the stock and many are asking if the Goldman Sachs Group Inc (NYSE:GS) downgrade to $85 meant anything. Ultimately, Goldman Sachs will be right with the stock coming back down. Valuations are far too stretched and even the technical levels are not showing much further upside. The only thing driving the stock is a high amount of shorts. As the stock goes higher, stocks must cover. That creates artificial buying which propels it higher.

What is the master level for resistance? The stock is nearing its next master level. This level is $136 - $140. Look for it to top out and start back down again in the coming days.

Gareth Soloway

2 Comments – Post Your Own

#1) On July 29, 2013 at 5:40 PM, jeffhre (< 20) wrote:

What did your technical levels say about Microsoft in 1983, Apple in 1985 or 1995, or 2005, Amazon in 1999, EBAY in 1996 and Hansen's juices in the late 1930's, mid 1950's, early 1970's, late 1980's or early 2000's?

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#2) On July 29, 2013 at 10:19 PM, camarodan64 (< 20) wrote:

GoldmanSacs is a manipulator of markets. 

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