Sunday, July 25, 2010

In the Zone

TSLA - Tesla Motors, Inc.

Tesla Motors, Inc. engages in the design, manufacture, and sale of electric vehicles and advanced electric vehicle power train components. The company was incorporated in 2003 and is headquartered in Palo Alto, California with a showroom in Copenhagen.

Tesla Motors raised $226.1 million dollars in its initial public offering on June 29, 2010 and its shares surged 41 percent as investors jumped on board to purchase shares. Shares closed at $23.89 after opening at $17 on the very first day of the initial public offering.

After 4 weeks of trading, the company ended trading at $21.29 up +$0.65 or 3.15% higher for the week on lighetr than average upside volume of 7.12 million. Keep Tesla Motors on your watch list for a breakout above the $22.30 - $22.35 area in the near term.

By: Marlin Rolle
*** Please have a close look at the chart below ***

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