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2021 will not be a challenge for Tesla, who "will continue with his incredible career"

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Tesla is just days away from closing one of the best years in its history. Shares of the electric car manufacturer have advanced nearly 700% so far in 2020 and are very close to their all-time highs. All this in a year marked by the pandemic and with one of the biggest economic crises in memory.

The excellent year of Tesla leaves the bar very high for the next 12 months, however, nothing suggests that the 'luck' of Elon Musk has run out, in fact, the market is very optimistic. "The conditions remain in force so that Tesla continue your incredible career"explains Adam Vettese, analyst at eToro.

The entry, this Monday, in the S&P 500 index will be one of its great allies for 2021. Vettese highlights that thanks to the inclusion you will have even greater access to investor funds. But, what is the reason for its astronomical advance despite the crisis?

“The reason Tesla continues to produce goods for investors is not because investors think it makes the best cars, but because makes the cars of the future better than anyone", qualifies the eToro expert.

It has become the most valuable car manufacturer in the world

Not only is his progress on the trading floor historic, there are several milestones he has marked in recent months. Vettese highlights that it has achieved record sales and "has become the most valuable car manufacturer in the world ", in addition to the aforementioned entry in the S&P 500.

"During that time, investors who kept the faith have been rewarded handsomely. That dwarfs the kind of gains that traditional automakers Toyota and Volkswagen have made this year, "says Vettese.

Tesla faces 2021 with great optimism and challenges on the horizon. It is vital that you maintain the leadership in battery technology. Vettese assures that its position is such that it is very difficult for its competitors to reach it except for "the possible exception of his Chinese rival Nio".

"ITS TECHNICAL APPEARANCE IS VERY GOOD"

The S&P 500 hasn't given Tesla a very warm welcome. In fact, its shares have plummeted X% this Monday. Some falls that have had more to do with the market situation in general than with Tesla in particular. Major stock exchanges around the world have posted sharp declines after the UK reported a new, more contagious Covid-19 mutation.

But experts downplay the falls at the beginning of the week. In fact, on Friday it pulverized the all-time highs it found at $ 654.32. "Its technical aspect is very good and everything seems to indicate that we could end up seeing an extension of the gains until the level of the 800 dollars ", explains César Nuez, head of Trader Watch and technical analyst at ForexNews.online.

"The first support level is at $ 566.34. We will not appreciate even the slightest sign of weakness as long as it remains trading above this price level ", concludes the expert.

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