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Green day on Friday for Tesla

StockInvest.us, 2 months ago

Tesla

The Tesla stock price gained 2.54% on the last trading day (Friday, 8th Jul 2022), rising from $733.63 to $752.29. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 5.73% from a day low at $723.48 to a day high of $764.94. The price has been going up and down for this period, and there has been a 6.68% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 34 million shares were bought and sold for approximately $25.26 billion.

The last rating was given by JP Morgan on Jul 05, 2022. The price target was changed from 395 to 385.Over the last 90 days, this security got 10 buy, 13 sell, and 1 hold ratings.

Given the current short-term trend, the stock is expected to fall -30.74% during the next 3 months and, with a 90% probability hold a price between $319.44 and $521.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Tesla

Mostly positive signals in the chart today. The Tesla stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $703.00 and $702.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 24, 2022, and so far it has risen 19.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Tesla finds support from accumulated volume at $728.00 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 $41.46 between high and low, or 5.73%. For the last week, the stock has had a daily average volatility of 5.23%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Check full Tesla forecast and analysis here.