• tlivingstonblog

Tesla Builds A Big Base

Automaker Tesla continues to be a stock I believe is worth watching for a strong move higher in the coming months. While Tesla is widely followed, it is important to note that it still delivers incredibly strong earnings and sales. Last quarter, TSLA reported earnings growth of 230% and sales growth of 98%! This is just remarkable for a company with a $749 billion market cap. After a monster 2020 where it rose over 400% including a climax move in November into early 2021, TSLA has been basing throughout this year. These type of large bases are difficult to trade through, but they lay the foundation for the next move higher. I initially bought Tesla in August and will look to add to my position in the coming weeks should it clear recent resistance on volume. It is important to note that continued bullish action in stocks like ZIM and PLTR provide evidence that the market may be starting to favor growth stocks once again.

To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.


Full Disclosure: I currently own Tesla.


Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.