Traders are getting charged up about Tesla's prospects, but both the technicals and fundamentals may indicate the stock is close to reaching its top.
Shares of the electric car maker gained 6 percent on Monday in anticipation of the line of storage batteries Tesla is set to unveil on April 30.
The bulls were particularly emboldened by a note from Deutsche Bank analyst Rod Lache, who wrote: "Based on the preliminary work on the economics of Stationary Storage, we believe that this has potential to be more significant than the Street expects."
Lache estimates that the Stationary Storage batteries will add as much as $5 per share in earnings by 2020, adding roughly $100 per share in value.
But some on Wall Street are not so enthusiastic about Tesla. Erin Gibbs, equity chief investment officer at S&P Investment Advisory Services, maintains that the stock is already fully valued. She says Tesla is already trading around 400 times its forward earnings estimates as it is.