Tesla, Inc. (TSLA), gained a whopping 353.68% in the past 12 months. Its percentage gain is slightly under the combined gains of the 8 U.S. Major Indices, as shown on the following graph. 

It could be a stand-alone index at this rate!

The following 5-year daily chart of TSLA shows that price is hovering just above its 50-day MA, following a volatile, feeble, whip-saw rally since its low on March 5.

Price is at a critical juncture, in that the RSI has tentatively risen just above 50.00, while the MACD and PMO have just formed bearish crossovers.

A failure of TSLA to hold above both the 50-day MA and the 50.00 RSI level, could see a hefty pullback occur in short order to the 200-day moving average at 567.46, or lower.

However, if it can hold above the 50-day MA and the 50.00 RSI, and if we see bullish crossovers form and hold on the MACD and PMO, it could, conceivably, retest its all-time high of 900.40, or spike higher.

With Tesla's Q1 earnings report out now, we'll see whether buyers step back in, or not.

However, the following news may put a damper on bullish enthusiasm. And, if that becomes a pattern among car buyers, we could see WTI Crude Oil reach 80.00, or even 100.00, in no time (monthly chart below), unless OPEC increases production to avoid runaway inflation and voter backlash against world leaders, especially U.S. President Biden. Perhaps Joe's cancellation of the Keystone XL pipeline project through the U.S. on Day One of his administration (together with his frenetic fracking bans to please out-of-touch-with-reality world climate zealots) was (what could be) catastrophically short-sighted and ill-advised...and every day's delay in its construction will see costs skyrocket, especially if Oil spikes (OIL).

We'll see what happens...and whose hotline rings first. Prime Minister Trudeau, are you paying attention?

Source: ZeroHedge.com