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Evaluation of Tesla stock downgraded after the last trading session.

StockInvest.us, 4 months ago


The Tesla stock price gained 0.31% on the last trading day (Monday, 19th Jul 2021), rising from $644.22 to $646.22. During the day the stock fluctuated 4.17% from a day low at $621.29 to a day high of $647.20. The price has fallen in 6 of the last 10 days and is down by -4.81% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately $13.46 billion.

On July 16, 2021 "Bank of America" gave "$700.00 - $750.00" rating for TSLA. The price target was changed from $649.60to0.2%.Over the last 30 days, this security got 3 buy, 2 sell, and 1 hold ratings.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -3.39% during the next 3 months and, with a 90% probability hold a price between $529.05 and $660.15 at the end of this 3-month period.


The Tesla stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $657.94. On a fall, the stock will find some support from the long-term average at approximately $638.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, June 28, 2021, and so far it has fallen -6.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Tesla finds support from accumulated volume at $617.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $25.91 between high and low, or 4.17%. For the last week, the stock has had a daily average volatility of 3.77%.

Tesla holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Check full Tesla forecast and analysis here.