Professional Trader: Tesla Is One Of The Few Believable Growth Stories Out There

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  • The Steady Trader Head Trader Serge Berger was a recent guest on Benzinga's #PreMarket Prep.
  • Berger said that Tesla Motors Inc TSLA is among one of the few "believable" growth stories in the market.
  • Buying shares of Tesla represents a "trade idea," although the stock may not test all time highs in the near-term.
Serge Berger is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick. Tune in to the daily broadcast live Monday-Friday at 8 a.m. ET here.
The Steady Trader Head Trader and Investment Strategist Serger Berger was a guest on Monday's Benzinga #PreMarket Prep and explained why he believes Tesla ranks as one of the few "believable" growth stories in the market "that the public is aware of." According to Berger, Tesla may be positioning itself as the "anti-Volkswagen," especially when taking into account Tuesday's official release of its new Model X SUV. The trader continued that while the Model X launch by itself is unlikely to boost the stock back to the $280 level and test its all-time high of $286.65, it still represents a "trade idea," especially in an environment where investor anxiety in the auto sector is elevated. The conversation then shifted over to the technical, specifically the $256 area. Elconin pointed out that last Friday's low ($256.15), Thursday's low ($256.21) and a few other intra-day lows over the prior week ($255.80, $255.87) indicates that "someone has a huge opinion" at the $256 level. As such, this represents a "key level" and investors should keep that in mind before initiating a position.
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Posted In: Analyst ColorAnalyst Ratings#PreMarket PrepSerge BergerTeslaTesla Model XThe Steady TraderVolkswagen
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