Clean Plays Off a Dirty Move in Tesla

The chart for Tesla Motors had been steadying improving since early-December. Last night, the firm announced it missed its fourth-quarter vehicle delivery target. Initially, the stock was lower, but not by much. This morning, any hint of weakness was promptly gobbled up by buyers, as the stock is higher by more than 3.5% as I write this. 

If TSLA can hold above $220 now, the name becomes as constructive as it has at any time in nearly a full year. 

But beyond Tesla, the lithium-related plays could all easily benefit, too. Below, note the LIT daily chart, which is the ETF for lithium. We still have a sound uptrend in place. 

And in terms of specific lithium-related individual issues, chemical play ALB is a name we have noted for a while, acting well here.