Tesla, Inc. is not just a maker of luxury electric automobiles – it is also a solar energy company. Investors will be focusing on offerings in the trucking industry, with vehicles ranging from pickup trucks to large multi-wheeled freight carriers.
The stock closed 2017 at $311.35, up 45.7% for the year and in bull market territory at 47.6% above its 52-week low of $210.96 set on Jan. 3, 2017. The stock set its all-time intraday high of $389.61 on Sept. 18 and is in bear market territory since then, down 20.1% since this high. (See also: Tesla Could Jump 70% on Model 3 Success: Analysts.)
Here’s how the numbers worked in 2017.
Tesla shares closed 2016 at $213.69, and my annual risky level for 2017 was $250.95. This level quickly became an annual pivot first tested on Jan. 24, 2017. Given stability around this level, investors were justified to buy at $250.95 on March 22. At mid-year, the stock closed at $361.61, and my semiannual value level of $313.87 was tested as a buy level on July 6. The stock set its all-time intraday high of $389.61 on Sept. 18. Then, the semiannual pivot of $313.87 was violated to the downside on Nov. 2, and it has been a magnet since then, including on the last day of 2017.
Tesla is not a profitable company, so it does not have a P/E ratio, but its weekly chart is not negative. …read more
Read more here: Tesla Stock Begins 2018 in Bear Market Territory