Why Tim Quast Says Tesla Stock Investors Should Wait For Better Buying Opportunity

Tesla Inc TSLA made headlines over the weekend after one of its cars crashed with no one driving. 

Tim Quast, the founder and CEO of Market Structure EDGE, talked Tesla Monday on Benzinga's YouTube show "PreMarket Prep."

"People continue to believe in Tesla," he said, adding that the stock's short volume is currently below trend.  

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For those who own the stock, Quast doesn't see any reason to sell. 

For those looking to buy Tesla, Quast said he thinks there will be a better opportunity.

"Wait for sentiment to fall and rise," he said. 

The data shows that the average cycle for Tesla lasts just over a week. Tesla will likely present another buying opportunity in about eight to 10 days, Quast said. 

TSLA Price Action: Tesla was down 3.62% at $713 at last check Monday. 

Image by Valentin Baciu from Pixabay.