Tesla stock could be on its way to $500, trader says

One Tesla bull says the stock could be headed higher even after a more than 400% rally so far this year.

Todd Gordon, founder of TradingAnalysis.com, sees several tail winds that should carry the stock back to record highs. First, he told CNBC’s “Trading Nation” that a record number of deliveries in the third quarter is a bullish development.

On top of that, he pointed to expansion in Europe and a focus on battery production as two other catalysts.

The charts also signal a breakout in the making, he said.

“You can see just an absolutely amazing run from the $100 mark, this is post-split, all the way up into the $400 range and you can see that we started to fall into a little bit of a…