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The Tesla stock price gained 1.82% on the last trading day (Wednesday, 15th Dec 2021), rising from $958.51 to $975.99. During the day the stock fluctuated 5.44% from a day low at $928.25 to a day high of $978.75. The price has fallen in 6 of the last 10 days and is down by -10.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 930 thousand more shares were traded than the day before. In total, 25 million shares were bought and sold for approximately $23.94 billion.
On Dec 08, 2021 "New Street Research" gave "$1,298.00 - $1,580.00" rating for TSLA. The price target was changed from $1,046.20 to 0.5%.
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 $964.82 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 39.41% during the next 3 months and, with a 90% probability hold a price between $1 345.06 and $1 960.99 at the end of this 3-month period.
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. The Tesla stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1 006.06 and $1 085.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 04, 2021, and so far it has fallen -20.65%. 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 $894.00 and $781.53.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 $894.00. If this is broken, then the next support from accumulated volume will be at $781.53 and $759.49.
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 $50.50 between high and low, or 5.44%. For the last week, the stock has had a daily average volatility of 4.98%.
The Tesla stock holds several negative signals and despite the positive trend, we believe Tesla will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Check full Tesla forecast and analysis here.