The stock has long had its critics when it comes to its valuation and fundamentals.
But from a purely technical perspective, some indicators are showing Tesla s current hot stretch may be due to end in the weeks ahead.
That s according to Sven Henrich, a market strategist and technical analyst who is the founder of NorthmanTrader. Obviously the stock is in a massive upturn. It s also vastly technically disconnected, Henrich told Business Insider on Tuesday.
Henrich is calling for a roughly 17% correction in the stock, a view stemming from his analysis. That would put the stock at levels it hit during intraday trading on January 4, between about $710 and $720.