Here’s the update on Tesla ($TSLA) (November 23, 2020)

by DAN TSLA 
I am talking about Tesla ( NASDAQ: TSLA ) again today. I had a lot of people asking about this stock. And yes, I still think it goes to 600.00; I don’t like to make price targets that way because it infers that I know something or I think I know something and I actually really don’t.

I am looking at just the way the stock is trading, the momentum that it has. And it just seems to me that the stock is going to continue going up. But I have to give you that disclaimer, I don’t know; and so don’t think that I do and don’t give me crap for insinuating that I do because I don’t.

But again, the way this stock is trading, coming out of a really solid squeeze here like this with this kind of momentum, I’m just not really sure why it wouldn’t continue on to 600.00 considering that it’s added to the S&P 500 ( INDEXSP: .INX ). We know their cars are crap everybody knows that they are. I won’t get into it; look at Consumer Reports, you will see, they make crap cars.

However, it’s a great stock, this is a Ferrari of stocks. So why this wouldn’t get to 600.00 I don’t know. Think about it this way, it’s $52.30 stock, could it go to $60.00 if the stock is being added to the S&P 500 ( INDEXSP: .INX )? Sure it can. I have just given you your trade. How you are going to deal with it is your task, not mine.

But one thing you could do is, if you use the prior days intraday low, and that would mean today, 501.79 is what it was; if you could use that as your stop that would work. It is still a pretty tight stop; you may just want to go below 500.00, I don’t know, 498.00 or 499.00. You’re still okay; 5 percent, you could even go below Friday’s intraday low of 489.06. You could put it right here at 488.00 and you are still risking just a little over 6 percent.

So there are several places that you could put your stop. For me, I would just suggest putting it just a little under $500.00; I just don’t think it’s going to go back there.

Free Chart