Green day on Friday for Tesla

StockInvest.us, 4 weeks ago

Tesla

The Tesla stock price gained 3.06% on the last trading day (Friday, 17th Jan 2025), rising from $413.82 to $426.50. During the last trading day the stock fluctuated 4.76% from a day low at $419.77 to a day high of $439.74. The price has risen in 6 of the last 10 days and is up by 12.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 million more shares were traded than the day before. In total, 94 million shares were bought and sold for approximately $39.95 billion.

On Jan 13, 2025, it was reported that Morgan Stanley gave TSLA a "Overweight" grade with a "hold" action.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $406.98 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 64.49% during the next 3 months and, with a 90% probability hold a price between $669.43 and $905.74 at the end of this 3-month period.

Tesla

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 $408.27 and $405.84. A breakdown below any of these levels will issue sell signals. 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 Tuesday, December 17, 2024, and so far it has fallen -11.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $350.00 and $328.49.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tesla finds support just below today's level at $350.00. If this is broken, then the next support from accumulated volume will be at $328.49 and $321.22.

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 $19.97 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 5.52%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tesla stock to perform well in the short-term.

Check full Tesla forecast and analysis here.