Green day on Thursday for Tesla stock after gaining 0.736%

The Tesla stock price gained 0.736% on the last trading day (Thursday, 12th Sep 2024), rising from $228.13 to $229.81. It has now gained 4 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 last trading day the stock fluctuated 3.40% from a day low at $223.83 to a day high of $231.45. The price has risen in 8 of the last 10 days and is up by 11.69% over the past 2 weeks. Volume fell on the last day by -11 million shares and in total, 72 million shares were bought and sold for approximately $16.48 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Sep 05, 2024, it was reported that Morgan Stanley gave TSLA a "Overweight" grade with a "hold" action.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 2.77% during the next 3 months and, with a 90% probability hold a price between $200.08 and $275.97 at the end of this 3-month period.

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 $222.96 and $214.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024, and so far it has risen 19.84%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $215.99 and $209.86.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 $215.99. If this is broken, then the next support from accumulated volume will be at $209.86 and $182.47.

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 $7.62 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 5.23%.

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.