Technicals aren't driving this stock, it's purely speculation that they will deliver on promises IMO. Now being that they have been pulling permits for fencing to hide more solar roof tests and looks like they will deliver on this on top of proving the ability to ramp up car production...I feel like very good things around coming.
Now I also feel like a pull back only makes sense. Drop of 15-20% and then back up as some people will lock in profits, then others will see the opportunity to get in on Tesla.
To me this is a stock that behaves a little differently in part because it's owned by a lot of individual investors. Which meas technical info isn't the only driving factor. It's a fact, individuals are much more emotional in their investing "strategy" then the institutional money. Individuals will reward companies with a good story these days...the younger generation isn't purely about corporate greed. They all love that Tesla is trying to change the world's carbon footprint. Lots of that generation are starting to accumulate $$$ to invest and they aren't about buying as much stuff. Very good for companies like Tesla long term IMO.