Statistical Trends and Technical Analysis Incentivize a Bearish Approach Against Tesla (TSLA)

On paper, electric-vehicle maker Tesla (TSLA) has the makings of becoming a strong performer yet again for the new year. As Barchart content partner The Motley Fool explained, TSLA stock has been “on a tear in recent months, and the biggest catalyst is the incoming Trump administration, as the policies of the President-elect are expected to favor Tesla.”

Further, the article pointed out that the “end of rebates and tax incentives for electric-vehicle (EV) customers would benefit Tesla as the industry leader.” Not surprisingly, Wedbush analyst Dan Ives is optimistic about TSLA stock, anticipating that the underlying company will reach a market capitalization of $2 trillion sometime this year.