Ian Cooper’s Stock Pick of the Week

Chart of Day: Revisiting Tesla (TSLA)

In early June, we highlighted an opportunity in oversold shares of Tesla (TSLA).

At the time, it traded at around $177 a share.

Today, it’s up to $237.12 and could easily ramp higher with growing demand for electric vehicles. Helping, the company just posted second quarter vehicle production and delivery numbers that were better than estimates.

As noted by CNBC, “Tesla’s total deliveries hit 443,956 vehicles in the second quarter, with total production at 410,831 vehicles over the period. Analysts had expected that Tesla deliveries — the closest approximation of sales disclosed by the automaker — to reach 439,000 in the three-month stretch ending on June 30.”

From $237.12, we’d like to see TSLA closer to $260 near term.

 

Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies

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