Posted by PuruPurfler > 2017-02-13 23:58 | Report Abuse

After closing higher in nine out of the past 10 weeks, shares of Tesla Inc (NASDAQ:TSLA) are fast approaching the all-time highs at the $290 level. Most of the recent near-parabolic move has been predicated on hopes for the ramp-up in production for the Model 3. Trade of the Day: Play a Torrid Tesla Inc (TSLA) Stock Rally Source: Windell Oskay via Flickr (Modified) TSLA, however, has a history of over-promising and under-delivering. I think the stock has come too far, too fast and is ripe for a pullback. Certainly the stock has been huge performer since early December, tacking on a very impressive 50% gain in that time frame. Shares are reaching extremely overbought levels on a technical basis, with nine-day RSI readings over 85. Previous instances when Tesla stock reached such levels of euphoria proved to be short-term tops in the stock. Original source:https://investorplace.com/2017/02/tesla-inc-tsla-stock-torrid-rally/#.WKHXZHV97J8