Sign In
The Tesla stock price gained 2.26% on the last trading day (Tuesday, 23rd Aug 2022), rising from $869.74 to $889.36. During the last trading day the stock fluctuated 3.79% from a day low at $863.77 to a day high of $896.48. The price has fallen in 6 of the last 10 days, but is still up by 4.63% 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, 3 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately $18.91 billion.
Citigroup is very positive about TSLA and gave it a "$375.00 - $424.00" rating on Aug 02, 2022. The price target was changed from 375 to 424.Over the last 90 days, this security got 13 buy, 11 sell, and 0 hold ratings.
The stock lies in the middle of a wide and strong 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 35.72% during the next 3 months and, with a 90% probability hold a price between $1113.55 and $1292.34 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 $902.48. On a fall, the stock will find some support from the long-term average at approximately $825.44. 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, August 15, 2022, and so far it has fallen -4.16%. 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 $815.12 and $711.11.There is 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 $815.12. If this is broken, then the next support from accumulated volume will be at $711.11 and $699.00.
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 $32.71 between high and low, or 3.79%. For the last week, the stock has had a daily average volatility of 2.67%.
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.