Tesla Motors

Tesla Motors ( TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. This stock is trading up 4.9% at $31.88 in recent trading.

Today's Volume: 1.8 million

Average Volume: 1.3 million

Volume % Change: 171%

Shares of TSLA are moving sharply higher today after Morgan Stanley upgraded the stock to an overweight rating from an underweight rating, and raised its price target to $50 from $45.

>>Stocks With Recent Analyst Upgrades

From a technical perspective, TSLA is gapping up strong here back above its 200-day moving average of $31.05 and above some near-term overhead resistance at $31.30 with above-average volume.

Traders should now look for long-biased trades in TSLA as long as it can maintain its trend above its 200-day at $31.05 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.3 million shares as bullish. If TSLA can hold that trend, then this stock has a great chance of re-testing or taking out its next major overhead resistance level at $36.

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