Follow @stockstobuy
Tesla (TSLA) stock is dropping hard after the company sold fewer electric cars during last quarter but upped guidance for 2013. Those cars will make it into the current quarter and you can bet Elon Musk will do everything possible to report a blow out quarter.
So now what? Tesla (TSLA) shares are back to $140, down $55 from the high just one month ago. Yes there were a few Tesla fires but there are around 800 vehicle fires in the U.S per day. I don't see it as a big deal and Tesla cars are the safest vehicles on the planet. If anything, the stock is oversold and finding support down in the $130's. I see a bounce back to at least $155-$160 in the coming months.
I completely sold out of Tesla (TSLA) in the $160's several months ago but I have been buying back this week and plan to buy more if the stock hits the $120's. This company remains 5 years ahead of the competition and they will continue to improve for years to come. Resistance is located at $145.65 as well as $156.
Also see - Top Stocks 2014 - Top Stock Gainers 2013
