Shares of Tesla Inc. (NASDAQ: TSLA) closed just over $400 on Tuesday, continuing to bounce off the rising trendline that has supported the stock since April. To the bulls, that’s a sign of resilience and an encouraging setup heading into year-end. To the bears, the fact that support is even being tested shows how fragile sentiment has become.
It’s no surprise that Tesla remains one of the most divisive stocks on the market, and for those of us on the sidelines, it’s not made any easier with both sides having credible arguments. On the one hand, it’s holding onto most of its hard-won gains from over the summer; on the other, it’s started to give up September’s pop, having failed to hit a fresh all-time high.
