On CNBC's "Power Lunch," Steve Grasso said that Tesla Inc (NASDAQ: TSLA) has "defied all laws of probability." He thinks the restart of its Shanghai plant was the first surge higher.Grasso would sell Tesla at around $735, but he would watch for the price level of $767 at which the company raised money. He said the stock is going to face resistance between the current price and $767. The risk-reward is definitely stacked in the hands of bears, according to Grasso.Tesla closed Wednesday's session up 2.8% at $729.83 per share. The stock has a 52-week high of $968.99 and a 52-week low of $176.99 per share.Related Links:Tesla's Stock Keeps Rising After Goldman Sachs Gives Shares 4 Price TargetTesla China Car Registrations Buck Industry Slump In MarchSee more from Benzinga * Cramer Advises His Viewers On Alcoa, Xerox, Tesla And More * Mike Khouw Sees Unusual Options Activity In Tesla * 'Fast Money' Traders Weigh In On AT&T, Tesla And Twitter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
