Tesla surged to all-time high

Tesla surged to all-time high

2020-08-28 • Updated

Tesla hit a new record on Thursday. Does it still have the potential to the upside? Let’s look at what analysts say.

What happened?

Tesla stock skyrocketed to the fresh high of $2 295 on Thursday, leaving behind all its rivals –  other carmakers. Some analysts believe it happened after the optimistic comment of Jefferies & Co.

The company went public 10 years ago and has managed to increase its value so far from $17.54 to $2 295. It's... impressive, isn't it? On July 1 it has become the world’s most valuable carmaker, outperforming even Toyota. However, in comparison with Toyota and Volkswagen, Tesla sold fewer automobiles. Retail sales in 2019 were, as follows: Toyota – 10.46 million, Volkswagen - 11 million, while Tesla – 367 200 vehicles. Nevertheless, Tesla is developing at a rapid pace, and its’ founder Elon Muck is planning to deliver half a million cars till the end of this year.

Besides, Tesla has succeeded to make a profit in the second quarter of 2020 for the fourth time in a row despite difficulties amid the coronavirus pandemic. That allowed the tech giant to be included in the prestigious S&P 500.

Wedbush’s best-case scenario implies that Tesla may reach $3 500. The main reason is the increased demand for electric cars in China. The company’s new Gigafactory 3 in Shanghai will boost production to meet all the orders. By the way, don’t forget that the soon stock split may add tailwinds to Tesla as well. Analysts say that the psychological effect of owning whole shares in the company people admire will attract more investors. Trading will begin on a split-adjusted basis on August 31. Don’t miss out the moment!

Technical tips

If Tesla’s price breaks through $2 250, it will open doors towards the next resistance of $2 300. In the opposite scenario, the move below the key psychological mark of $2 000 will drive the price lower to the support of $1 860. Follow further news on Tesla and catch the market movement!


What should you do for trading Tesla’s stock?

Trading stocks with FBS is easy. Follow the simple steps described below.

  1. First of all, be sure you’ve downloaded Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area.
  3. Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
  4. Start trading!



Oil rally takes a break
Oil rally takes a break

WTI oil pulled back after it surged above $52.00 for the first time since February. What's next?

Latest news

Gold: trade the sideways move
Gold: trade the sideways move

How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera