Here's the tweet in question:
The Economist used to be boring, but smart with a wicked dry wit. Now it's just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.— Elon Musk (@elonmusk) April 13, 2018
Shares of Tesla are up more than 2% in early Friday trading, boosted by the revelation that Tesla won't need to turn to the capital markets for more cash anytime soon.
Elon's tweet isn't the only place Tesla is taking aim at its detractors. Tesla is apparently taking on the National Transportation Safety Board following a fatal Model X crash in March that's currently under investigation. Tesla released a statement complaining about information releases and saying the agency appears, "more concerned with press headlines than actually promoting safety."
But investors are nonplussed - maybe even excited - by the war of words.
Here's an updated look at Tesla's technical trajectory in the wake of the recent drama:
Tesla has enjoyed a serious momentum boost since the calendar flipped to April.
After selling off hard during the month of March, Tesla is back inside the wide price channel that's corralled shares stretching all the way back to last summer. One important big picture takeaway here is the fact that Tesla is still stuck in a downtrend right now. It's a shallow downtrend, but it's a downtrend nonetheless.
Until Tesla musters the strength to break free of that bearish momentum glut, it continues to make sense to at least steer clear of the long side.
That fact is confirmed by relative strength, the side-indicator down at the bottom of Tesla's price chart. Relative strength has been in a downtrend of its own for much of the last year, signaling that Tesla continues to systematically underperform the rest of the broad market right now.
That's not to say that Tesla makes an attractive short right now. Despite sky-high short interest, Tesla is probably one of the most dangerous stocks to be short right now, thanks to a combination of an exciting business that continues to grab investors' attention, and major fundamental catalysts in the next few months, including Model 3 production goals and Elon's profitability goals.
Still, it's smart to wait for shares to muster the strength to break out above the top of their downtrend range before jumping over the long side of shares. Tesla's cars may feature autopilot, but shares aren't on autopilot at this point.