TSLA - hysteria driven

Whilst the main US equity market saw minor chop, there was a particularly powerful hyper-ramp in Tesla (TSLA), which settled higher by a crazy 13.8% @ $247 (intraday peak $259). Near term trend is bullish but today's move makes the smaller cycles very over-extended.


TSLA, daily

Summary

I have little to add on what is a pure hysteria stock.

Yes it makes rather attractive cars for the high end market, but really, it remains wrapped in media hysteria, and remains one of the ultimate momentum stocks.
-

As even some of the anti-TSLA traders noted today, they won't chase it higher as these levels, but neither would they short such a stock. There is very viable upside to the 300s, if not 400s late 2014/early 2015.