Some market bulls might be betting on the success of the “Battery Day”
Tesla (TSLA.US) stock gains for a fifth consecutive session as investors’ excitement intensifies ahead of the so-called “Battery Day” planned for the next week. Electric vehicle maker’s CEO Elon Musk is widely expected to present the latest improvements in Tesla’s battery technology. Some point out the the event might be crucial as the battery side is a critical factor that differentiates Tesla from its competitors in the automotive industry. Therefore some market bulls might feel encouraged to bet on the success of the event.
Tesla (TSLA.US) shares continue to soar as the stock opened with a bullish gap today. Looking at the daily chart, one might notice that the price has been steadily approaching all-time highs near $500 mark. The area at $333 (38.2% Fibo retracement) remains key support level. Source: xStation5