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The Tesla stock price gained 3.68% on the last trading day (Wednesday, 11th Jan 2023), rising from $118.85 to $123.22. During the last trading day the stock fluctuated 4.51% from a day low at $120.51 to a day high of $125.95. The price has risen in 7 of the last 10 days and is up by 12.94% 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, 17 million more shares were traded than the day before. In total, 183 million shares were bought and sold for approximately $22.57 billion.
The last rating was given by Mizuho on Jan 05, 2023. The price target was changed from 285 to 250.Over the last 90 days, this security got 1 buy, 18 sell, and 1 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -45.11% during the next 3 months and, with a 90% probability hold a price between $53.01 and $79.55 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.
A buy signal was issued from a pivot bottom point on Tuesday, January 03, 2023, and so far it has risen 13.99%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tesla stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $150.91. On a fall, the stock will find some support from the short-term average at $115.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
On the downside, the stock finds support just below today's level from accumulated volume at $113.06 and $112.71.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 $113.06. If this is broken, then the next support from accumulated volume will be at $112.71 and $108.10.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $5.44 between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 6.69%.
Tesla holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full Tesla forecast and analysis here.