Teslla Breaks Out Of 11 Day Trading Range

Tesla Motors Inc.

shares are trading higher by $12.60 at $233.28 in Tuesday's session. Postiive comments by billionaire Ron Baron and rumors that company is ramping up production of new cars are two possible catalysts for the rally. From a technical perspective, the contract had been mirrored in eleven day trading range between $215.18 and $225.93. Once the issue surpassed the upper end of the trading range, short covering and momentum traders have pushed the as high as $234.44.