Is it Tesla’s time? [Video]

Giles Coghlan LLB, Lth, MA Financial Source

There are a large number of risks around in markets at the moment: Bank sector worries, geopolitical risk, debt-ceiling strains, and concerns over global growth. So, with such risks around, and summer being seasonally weak for stocks this may be a sensible time to wait until the path becomes clear for the US economy before entering new positions. However, Tesla has an amazingly strong pattern that is worth looking at. Over the last 10 years, Tesla shares have gained every single time between May 19 and July 18. The average return has been a very impressive 20.16%. Will Tesla repeat its summer pattern again this year?

Major Trade Risks: The biggest risk here is if the US markets slide on a US recession, which will likely weaken Tesla stock too.

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Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

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