Tesla Inc TSLA shares are trading higher by $3.20 at $260.68 in Wednesday's session. The catalyst for the rally may be a Reuters article circulating about how CEO Elon Musk hopes Tesla will enter India this summer.
After a flat open, the issue found support just under Tuesday's low ($256.42) at $256.20 and was already on the rebound before the article made its rounds.
The ensuing rally pushed the issue beyond it former high for the recent move from Tuesday's session ($260.00), reaching $261.71.
Tesla hasn't closed above $26- since April 6, 2016, when it ended that session at $265.42. The following day, it fell to $257.20 following a downgrade from Standpoint Research.
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