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2021-06-16

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As Tesla stock dips, investor says ‘any time you get the chance to buy it, buy it’

Shares ofTeslaclosed lower despite a strong call from Mizuho. Analysts at the firm reiterated their

As Tesla stock dips, investor says ‘any time you get the chance to buy it, buy it’

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I mean, you can't get a better leader than they have.\"\nIn the same \"Trading Nation\" interview, Matt Maley, chief market strategist at Miller Tabak, noted that Tesla's stock has been relatively flat for the past several months, trading around its 200-day moving average.\n\n\"You don't see that very often,\" he said. \"Whichever way it breaks away from that 200-day moving average will give us a little bit of a hint [about] its next move.\"\nThe stock is also forming a descending triangle pattern, Maley said, saying the upper end of the pattern is around $650 and the lower end sits at $563. Those are the two levels to watch, and where shares move relative to those levels will be very indicative of where Tesla is headed, he said.\n\"In the past, when the stock has been stuck in this sideways range, once it breaks out, it starts to move in a big way. 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