Having initially traded down following last month’s earnings report, shares of Tesla Inc (NASDAQ: TSLA) are once again pointing north. The stock is currently trading around $390, putting it within touching distance of $400. This means that Tesla has not only recovered the ground it lost following April’s report but has actually pushed past its pre-earnings price, a clear sign that sentiment has swung to the bulls' side.
That kind of price action matters, especially given the multi-month downtrend that had been gathering pace. As we head into the start of summer, it’s looking more and more like Tesla has flipped the narrative back in its favor, and the path toward $400 looks increasingly clear. Let’s take a look at the bull case and the top three reasons in particular that Tesla should be back trading above that level in the coming weeks.
