Oh WOW.... Tesla!
While everyone and their brother seems to be talking about Disney Plus this week Tesla (TSLA) stock price has come roaring back the past few months to double its summer low but facing some possible resistance.
Broken down and seemingly on the side of the road this past June with price below $180 per share Elon Musk has managed to lead the company and double its stock price since the summer.
Recently, The Tesla chief executive has said Brexit uncertainty played a role in the firm’s decision to build its first European factory in Germany rather than the UK.
The billionaire entrepreneur revealed that the firm’s European battery plant would be built on the outskirts of Berlin.
Speaking to Auto Express after making the announcement, Musk said: “Brexit [uncertainty] made it too risky to put a Gigafactory in the UK.”
The US electric carmaker also plans to locate a research and development base in the German capital. Musk announced the Berlin decision at a car industry awards ceremony on Tuesday night hosted by the German tabloid Bild.
He said: “Some of the best cars in the world are made in Germany. Everyone knows that German engineering is outstanding, for sure, and that’s part of the reason why we are locating our Gigafactory Europe in Germany. We are also going to create an engineering and design centre in Berlin.”
Now, Tesla's stock price has surpassed several potential bear turning points but faces a decision in the coming weeks. Option traders could possibly benefit if price retreats from its current level of resistance.
We're not in the prediction business however we do like to react to price movement and trade short and long term equity options to suit our bias.
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How would you trade Tesla?