Tesla's Stock Rises Above $200: What Does This Mean? via insideevs.com
’s stock as it surpasses $200, representing the first market close above the mark since late March. Root also notes that Tesla’s shares are fairly volatile in comparison with the market overall, adding that it may not be a great idea to buy and sell the company’s shares too frequently.
Some analysts claim that Tesla’s stock is overbought with recent surges, which often happens when shares increase quickly. The state of a company’s shares is usually measured with the calculation of a company’s relative strength index , which can range from 0 to 100. When readings increase beyond 70, the stock is often considered Overbought. Currently, Tesla’s RSI is floating around 70.
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