Tesla stock had a crazy run. Basically doubled up over the last 6 month.
It is now at the top of its range which exist since about 2017.
Overall i think it is time for the stock to establish a new range, which should be at least double where we are right now.
Fundamentally there is a lot that has changed since 2017 mainly:
- the model 3 and all other products are a huge success
- absolute domination against traditional brands where it does compete
- weak competition in its EV area. Basically no other car maker can create something that competes with tesla.
- new factories and products about to go online, which should enable the company to keep growing at 50-100% per year.
- only car company that can grow significantly
Technically the stock aint cheap.
It would also be weird to just keep blowing though this resistance after doubling in 6 month, without much fundamental change in this timeframe
So I am a bit lost. I can’t really bring myself to dump the stock as the potential imho for a 10x increase long term and a doubling medium term is highest for this company vs any other.
I will watch and see where it takes us