Tesla Stock Forecast

A very strong day for Tesla stock price on Wednesday
(Updated on Apr 24, 2024)

TSLA Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 14.14%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tesla stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $168.15. On a fall, the stock will find some support from the short-term average at $151.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Tesla stock

Tesla finds support from accumulated volume at $161.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $10.46 between high and low, or 6.64%. For the last week, the stock has had daily average volatility of 4.13%.

Our recommended stop-loss: $155.45 (-4.12%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (TSLA) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Tesla Inc. to open at $162.54, and during the day (based on 14 day Average True Range), to move between $153.74 and $170.52, which gives a possible trading interval of +/-$8.39 (+/-5.17%) up or down from last closing price. If Tesla Inc. takes out the full calculated possible swing range there will be an estimated 10.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $161.48 (0.40%) than the resistance at $164.90 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tesla Inc. stock A Buy?

Tesla holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.260 Hold/Accumulate Upgraded

Predicted Opening Price for Tesla Inc. of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.