The Ghosts of Autos Past

After catching a monstrous price target upgrade from Morgan Stanley over the weekend, Tesla Motors gapped up higher at the open.

In the upgrade, Morgan noted that they see TSLA eventually larger than Ford and General Motors. Indeed, if TSLA is going to be the next F or GM, then the template of, say, GM's share price performance from one-hundred years ago implies that TSLA has room to go much higher from current levels. 

But first things first. And the $252 level looks to be the initial hurdle to clear. 

Moreover, on the weekly chart, below, it is worth noting that the momentum darling has gone nowhere, net/net, since February 2014. 

I would surmise that a consolidation of this magnitude is appropriate on some level, given the prior run-up TSLA had from March 2014. But the next big move is likely nigh, and the same might be said for equities in general, just as the rangebound meme reaches the heights of ubiquity among market players pundits.