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Tesla: A Stock on the Rise

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The maker of electric vehicles has seen enormous outperformance on a year-to-date basis and healthy annual sales growth.

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Today's chart is of Tesla Motors, Inc. (NASDAQ:TSLA), which designs, develops, manufactures, and sells electric vehicles and electric vehicle powertrain components.


Click to enlarge

What I Am Looking At:
  • Enormous outperformance on a year-to-date basis, +156%.
  • Parabolic rise on climatic volume trying to target the $100 handle.
  • $102 is four times the 52-week low.
  • Consumer Reports' best car ever tested.
  • Massive short interest represents 38% of the float, can anybody say "short squeeze."
  • Twice as many put options remain open versus call options (front three months), indicating an extreme in skepticism among option players.
  • Implied volatility for May is 117% (at an extreme).
  • Eight out of 11 analysts covering TSLA rate the shares a "buy" or better.
  • Annual sales growth during the past five years is 463%.
Strategy: Due to the current parabolic rise, I cannot determine a solid entry spot at this time until the price action consolidates.

This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

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Twitter: @schaeffers
No positions in stocks mentioned.
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