I keep waiting for the rivals to surface.
TSLA has had the premium EV market virtually to itself for 3.5 years and should be printing profits, but it's not.
TSLA has now posted five consecutive quarters of profitability while rapidly increasing productivity as well as margin.
My feeling is that TSLA can be traded from either side at these levels, but right now I'm trying to sit on my hands.
Domination of the EV market is about to end. How quickly price will acknowledge that fact is another question.
The charts of the electric vehicle maker are showing some weakening in the stock, though a major shake-out isn't likely.
My plan is to enter into an entry level position on the short side.
I don't expect a break up to be announced anytime soon. If that were to happen, I'll add at least $300 to my target price. No joke.
Because they could be the next Netflix or Amazon. To me that's enough.
There's reason to believe last week's selloff was based on a false pretense, and that the episode could be a buying opportunity.