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Tesla Hits New Record High; Makes Elon Musk A Lot Richer

Yesterday’s 7.94% gain on Tesla’s stock made Elon Musk the world’s richest man). The gap between Musk and Jeff Bezos (who saw his nearly three-year reign at the top of the Forbes richest list) has widened, as Tesla continued from where it stopped yesterday with another huge leap.

Today’s move means only 6 stocks in all of the European stock exchanges are worth more than Elon Musk, as per a data comparison by Reuters. Elon Musk is now believed to be worth $188 billion, according to a survey from Bloomberg. 

Tesla’s stock price has climbed more than 7% in mid-Friday trading. 

Technical Outlook for Tesla

Tesla’s upside gap on the day and jump into record post-stock-split territory has allowed the stock to challenge the 864.01 resistance. A clean break of this area, confirmed by two successive closing penetrations above this resistance line, opens the door towards the 912.32 resistance target. 1025.26 is yet another target to the upside. 

On the flip side, failure to clear the 864.01 resistance could force a pullback towards 784.76, as traders aim to take some profit off the table from the company’s amazing run. 693.75 and 654.12 are additional targets to the south.

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Tesla Daily Chart

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