Tesla (TSLA.US) shares hit new all-time high after an analyst upgrade. RBC Capital Markets, which was known for its bearish view on the stock of the electric car manufacturer, upgraded its investment stance to ‘sector perform’ from ‘underperform’, saying it got its original stance “completely wrong”. Yesterday Morgan Stanley rated Tesla's stock at Buy and increased price target on shares to $810, the highest mark on Wall Street, from $540. If Tesla's share prices had risen to this level, market capitalizations would reach almost $1 trillion dollars.
Also the takeover of the Senate by the Democrats supports renewable energy stocks like Tesla. This party is seen more willing to help subsidize growth in green energy than Republicans and some investors believe that this could lead to legislation that benefits Tesla.
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Tesla (TSLA.US) stock yesterday broke above the upper limit of the ascending channel and today reached a fresh all-time high and is testing the psychological resistance at $800.00 per share. A break higher may pave the way for a bigger upward impulse towards resisitance at $1000.00 per share. On the other hand, if sellers will manage to halt advances here, downward correction could be on the cards. The nearest support lies at $686.00 per share. Source: xStation5
