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18% returns in a month! This household appliance maker gave a breakout above falling trendline

Voltas, part of the consumer durable industry, has risen by about 18% in 1 month which helped the stock to break out from a falling trendline resistance that has opened room for the stock to head towards Rs 1,000. The stock price of Voltas, which makes household appliances, has rallied from Rs 776 recorded on January 23 to Rs 914 as on 22 February 2023 which translates into an upside of about 18%. However, from its 52-week high, the stock is still down more than 30% which effectively places the stock in a downtrend. But, the recent momentum seen in the stock suggests that bulls are trying to take control. The stock gave a breakout above the falling trendline which connects the highs of December as well as January 2023 on the daily charts. The up move has come with strong volumes. On the weekly charts, the stock has been forming higher highs and higher lows with strong volumes which suggests strength in the up move. In terms of price action, the stock is trading well above short and long-term moving averages placed at 5,10,20,30,50,100, and 200-DMA which is a positive sign for the bulls.

“Stock price of Voltas has taken support at its previous resistance zone on a monthly scale and formed a reversal candle with follow-up buying seen in the counter. It is also forming higher highs – higher lows on a weekly scale from the past four weeks with noticeable volumes,” Arpit Beriwal, Analyst, Equity Derivatives & Technicals, MOFSL, said. “It has given a falling supply trend line breakout on daily scale and started to form higher highs – higher lows as supports are gradually shifting higher,” he said.“The stock has also seen a moving average crossover on a daily scale which has bullish implications and stock is likely to outperform the broader market,” added Beriwal. Relative Strength Index (RSI) is also moving northwards which suggests momentum is likely to continue in coming sessions and thus looking at the overall chart structure on the weekly scale. We expect the stock to move higher towards Rs 1,000 level. We recommend buying the stock at current levels with a stop loss below Rs 875 level on a closing basis for an upside move towards Rs 1,000 zone,” recommends Beriwal.

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10 Investors Score $117 Billion On Tesla Stock's Double 'Bubble'

What's it like to make more than $110 billion in five weeks on just one S&P 500 stock? Ask the largest owners of Tesla (TSLA) stock.

The top 10 largest holders of Tesla stock, including top ETF and mutual fund providers like Vanguard and BlackRock (BLK) plus the Technoking Elon Musk himself, are collectively up $117 billion since the stock doubled from its 52-week (intraday) low on Jan. 6, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.

That means just 10 investors made more on one stock — Tesla — in roughly five weeks than all investors made on 496 individual S&P 500 stocks during the same time. That's crazy money.

The run on Tesla stock is prompting some to toss out the "bubble" word. "Tesla's recent price cuts are a display of pricing power, cost superiority and could increase demand — but it could also negatively impact Tesla's future profitability," said Oktay Kavrak, product strategist at Leverage Shares.

Tesla's Run-Up Is One For S&P 500 History Books

It's not often to see so much value get created by a single stock so fast. But that's the story of the S&P's bounce this year following last year's beatdown.

Shares of Tesla are up more than 105% from their 52-week intraday low on Jan. 6. And they're up more than 85% from their closing price that day. That means all Tesla investors are up $305 billion from that low day's closing price. That's more of a market value gain than all but two other individual stocks in the S&P 500.

Yes, Apple is up more than $361.9 billion since then. And Microsoft is too, up $348.8 billion. But on a percentage basis, they're only up 18% and 21% respectively, or nowhere near Tesla's percentage gain.

And that's why some bubble talk is starting to perk up (although shares are still 46% below their 52-week closing high). Tesla closed Tuesday at 209.25. At that price, Tesla stock is already nearly 9% past the 192.63 a share analysts think it should be worth in 12 months.

Big Wins On Tesla

No investors are making as much money in this year's Tesla rally as Musk himself. Musk still owns 13% of the electric-car maker, more than anyone else, a lucrative move in 2023.

Musk has gained $40.7 billion in paper wealth on just his stock this year alone. No one comes even close. But Vanguard, the top holder of two-thirds of S&P 500 stocks, is bringing its ETF and index mutual fund investors along for the ride, too. The fund company's 6.9% stake in Tesla has gained nearly $21 billion in wealth on its position.

And rounding out the top three winners in No. 3 spot is BlackRock. The fund company's 5.6% stake in Tesla added more than $17 billion in market value just this year.

But while bears think Tesla is running too far, too fast, some mega-bulls exist. The most optimistic forecast for where Tesla stock will be in 12 months is 320 a share. If that's right, Tesla still has more than 53% upside from Tuesday's close.

That's not as impressive as the stock's run in the past five weeks, but none of these top Tesla stock investors will likely complain.

Big Tesla Investors Make A Fortune This Year

Brainmass Finance Team