Login

Register

Login

Register

Tesla (TSLA) Stock Falls, Here Is The Price Target

Shares of Tesla Inc (TSLA) are falling today and have likely put in a major top. The stock is down almost 3% on the day, trading below $479.28 after hitting an all-time high of $498.80. This fall is long overdue as the stock ran from $250 to almost $500 in 10 weeks. This epic move is unparalleled and was a combination of CEO Elon Musk’s pumping, Wall Streets thirst for high beta names and short covering.

Any way you cut it, Tesla Inc is likely cooked until it digests this epic move. A retrace has likely started, with the stock heading for $380.00. This represents the previous all-time high on the stock from 2018 and a perfect Fibonacci 38.2% retrace of the recent move. This is an easy short at current levels.

Get live trades on Tesla and other stocks in play. Profits being taken almost daily. Members banking millions. An 80% VERIFIED success rate on swing trades. Join Verified Investing Alerts and get exact entry/exits, targets and stops LIVE. Join Verified Options Alerts for amazing daily options trades. The action and profits can be seen by checking out the VERIFIED track records on each page. Get the live calls now!

There are two factors that are holding the stock at or below $500/share. The first is that $4 billion in debt will be converted to equity. This would increase the shares outstanding significantly. The second factor is that Elon Musk gets a massive mult-billion-Dollar payout at this level. This would also put pressure on the stock and take away from future profitability. Just two notes to think about. By no means can Tesla Inc not get above $500 in the future, the point here is that factors, including an extreme overbought condition are keeping it under $500 for now.

Tesla Inc (TSLA) is an exciting company that people love to drool over. But when all is said and done, the market cap of Tesla is now equal to Ford (F) and General Motors (GM) combined. Tesla sells only a fraction of the cars they sell. Is Tesla more than a car company? These questions will be answered in the future. The bottom line is, Tesla Inc has signaled a short-term top and retrace beginning here. There is a trading opportunity available.