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Tesla Heating Up After a Correction


TSLA, Tesla Chart Correction

TSLA has given investors a scare after reaching a peak of $287.

Released on Tuesday, February 28, 2017, 5:40 PM ET
by Email Russ UrbanContact SpeculatingStocks

Pittsburgh, PA (SpeculatingStocks) - Tesla, Inc. (NASDAQ:TSLA) is one of those story stocks that gets talked about a lot and goes on unbelievable runs higher. Investors have latched onto TSLA mostly because Tesla has a visionary Steve Jobs-like CEO in Elon Musk. Tesla is more than a car company and one of the reasons the fledgling company trades at a $40 billion market cap and closing in on the market cap of Ford Motor Company (NYSE:F), trading at a market cap of approximately $50 billion.

Tesla is implementing outside-the-box ideas like fully automated, and I mean fully automated factories, and such things as providing insurance for buyers of their cars. The CEO has stated that demand for Tesla cars is not the problem, and now it doesn't seem that production will be either as of their latest quarter discussed thoroughly last week. TSLA ran so much into earnings that investors had to sell the news. TSLA climbed from $180 in early December to a high of $287 on February 14, 2017. TSLA has since trimmed off $40 in its share price.

TSLA is rebounding off an RSI of 40 in its chart after trading upwards of an RSI of 88 around February 14th. TSLA rebounded six times in the last six months off of this same RSI of 40 point. TSLA also has its 50-day moving average below at $242. Wednesday could be a big day for TSLA shares to start climbing again and if investors get lucky they could see a breakout to above $300 on this climb.

Tesla may be the most innovative large-cap company out there right now. The company is way ahead in solar and lithium batteries. This company has its pulse on the future. Its current market cap of $40 billion is nothing compared to where this company is going. If Apple (NASDAQ:AAPL) doesn't get to a $1 trillion market cap first then Tesla could be the company to do it.

Many traders out there are trading this stock back and forth as it provides a lot of opportunity and is highly liquid and active each trading day.

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⇒ About the Author of this News Article:

Russ Urban has been following the stock market for over 17 years and holds a Bachelor's Degree in Finance. From a young age, he watched CNBC with a keen eye and became obsessed with the market and technology. Russ Urban has written hundreds of stock articles and stock picks through the years since he founded, Inc. in 2006 and holds strong faith in the power of the markets and capitalism.

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