Tesla Stock Has Room to Run, If History Is Any Indicator

Tesla Inc (NASDAQ:TSLA) stock is up 3.8% to trade at 406.51 this afternoon, pacing for a fifth win in the last seven days. The shares are trading at their highest level since early July and overcoming resistance at $390, which kept a lid on gains since September. This bounce has the shares clearing their 200-day moving average, which could bring bullish implications considering TSLA's history. 

Per Schaeffer's Senior Quantitative Analyst Rocky White, this “crossover” event has happened 10 other times over the last 10 years. Tesla stock was higher one month later 80% of the time after these signals, averaging an 11.4% gain. From its current perch, a move of this magnitude would put the shares back above $475 for the first time in 11 months.

A shift in analyst sentient could keep the wind at TSLA's back. Of the 39 brokerages covering the stock, 25 maintain "hold" or "sell" ratings, while the consensus 12-month price target of $395.66 is a 2.8% discount from its current perch.

Options could be the way to go for Elon Musk's EV giant, in a post-earnings volatility crush. This is per TSLA's Schaeffer's Volatility Index (SVI) of 22%, which stands higher than just 14% of all other annual reading, indicating affordable premium.