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Berger: Stalled Tesla stock about to rev up?
In the last few months Tesla Motors’ stock has stalled on the side of the motorway along with its other momentum stock peers. Serge Berger, also known as The Steady Trader, says that although the company’s stock is down 35%, since its peak in September, it's worth watching the stock very closely given the amount of investor interest surrounding the company.
Tesla has attracted negative attention from investors after reporting disappointing earnings and cutting 30% of its Chinese staff. The company reported a Q4 net loss of USD 108 million on revenue of USD 956.7 million. Additionally, CEO Elon Musk stated that the company is in the process of “interviewing candidates” for the North America, Europe and Asia-Pacific regional sales managers.
According to Serge, an accommodative or hawkish Federal Reserve statement this Wednesday could put an end to the stock’s bearish momentum. With the stock approaching the technical support area between USD 180-185, Serge is looking to buy Tesla stock on a bullish break around USD 195. He is targeting a surge towards USD 215, with a stop placed at USD 185.
01:28 minutes
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