Tesla Skyrockets 25% Since Entry Into S&P500

Tesla Now +25% Since Entry Into S&P500 alternative finance news

It is an understatement to say everyone at AFN is a Tesla (NASDAQ:TSLA) bull. As of this writing, Tesla is above the $500 range, making a new all time high at about $504 per share. You can check out our previous article on the subject here, where we speculated the stock will hit $1000/share. Good news for those that followed along. Below we identify why Tesla is Now +25% Since Entry Into S&P500.

Tesla Now +25% Since Entry Into S&P500 alternative finance news
Tesla Model S

Technical Analysis

Tesla Now +25% Since Entry Into S&P500 alternative finance news

As you can see from this chart, Tesla stock is extremely bullish.

For the past couple months, Tesla has been creating a super tight coil.

Usually when this happens, there is a strong move in either direction. In this case, it was a major breakout.

For the technical analysts out there, it was obvious that at some point, Tesla would break out hard.

You can simply chart the divergence on the MACD (lower portion of the chart).

The MACD shows an ascending divergence pattern as TSLA bulls continue to accumulate the stock. This also assumes that less stockholders are selling it.

Next, the chart also shows strong Accumulation and increasing RSI. These are both bullish factors.

For these reasons alone, we believe it was only a matter of time before Tesla broke out one virtually any bullish news.

Tesla Analysts

From a Motley Fool analysis on the recent Tesla spike:

Shares of Tesla (NASDAQ:TSLA) are rising sharply again, following an 8% gain on Tuesday. The electric-car maker’s stock is up following Morgan Stanley analyst Adam Jonas’ decision to increase his price target on the stock by $180.

Jonas now has a 12-month price target of $540 on Tesla shares, up from a previous target of $360. The analyst’s increased bullishness on the stock comes as he adds software and connected vehicle services revenue to his forecasts for the company. The present value of future earnings derived from software and connected vehicle services alone is worth $160 per share, Jonas argues.

Daniel Sparks, The Motley Fool

Bullish.

While these analysts try to stay conservative by setting their price targets into a realistic level, we believe they are missing the big picture.

The EV Boom is still ongoing.

We knew that it was unlikely that the previous decision of denying entry into the S&P 500 would stand.

And we were right BIGLY.

EV Stocks Are Going Bananas

Unless you have not been paying attention to the stock market lately, EV stocks are going WILD.

We have been in some of these plays since MArch, and they have played off in big way.

Just yesterday, shares of Blink (NASDAQ:BLNK) skyrocketed about 20%. Today, they are up ANOTHER 20%.

Tesla and BLNK are just two of the top fliers.

There are several to choose from.

Check out this great article from Yahoo Finance on some of the top players in the EV space.

Lots of potential as the entire car industry shifts from Internal Combustion Engines to Fully Electric.

Make sure you subscribe and check back for more articles on the latest.

Conclusion

Congratulations to the bulls. Tesla Now +25% Since Entry Into S&P500, and we believe it will continue to pump heavy. Again, our price target is $1000 for the stock and we will continue to buy large dips on the way. Make sure you subscribe for more of the latest news on hot tech stocks, crypto and other financial news!

The EV Boom is ongoing. Have you checked out our article on the Kensington Capital Acquisition Corp and QuantumScape Merger? Check out here!

Yes, Bitcoin has just broken out of a major consolidation period. Have you read our forecast?

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