Shares of Tesla Inc. (NASDAQ: TSLA) were trading around $430 on the afternoon of Nov. 12, in what was shaping up to be yet another quiet session. The stock has been uncharacteristically range-bound between $420 and $470 for almost two months, with every attempt to break out, in either direction, swiftly rejected.
It’s a strange pause for a stock that doubled from its April lows and now sits within reach of its all-time high, but can’t seem to push through to blue sky territory. The question is whether this is a healthy consolidation before the next leg higher or a sign that Tesla’s momentum is fading. The thing is, there’s an argument for both possibilities.
