Tesla- Looking Good
Tesla, $TSLA, is setting up quite well for a potentially strong move higher. I've traded Tesla two times in 2020, once in May and later in August. This stock has just been incredible this year. I sold it after its stock split, reasoning it would need time to digests its massive gains. I've been really impressed with how it has held up over the last month. Since April, it has yet to close below its 10-week moving average; investors just keep coming in to buy it. In addition, it found support at its prior breakout area and looks like it is forming a base on base pattern. We've seen similar action this year in other stocks such as $WKHS and $NIO.
The fourth quarter will be an interesting time to be watching Tesla to see if it can finish 2020 in strong fashion.
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