High volatility in Tesla stock price on Thursday which ended trading at $873.28StockInvest.us, 2 weeks ago
The Tesla stock price fell by -8.33% on the last day (Thursday, 5th May 2022) from $952.62 to $873.28. During the day the stock fluctuated 10.25% from a day low at $857.70 to a day high of $945.60. The price has fallen in 6 of the last 10 days and is down by -13.43% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 million shares were bought and sold for approximately $27.24 billion.
Deutsche Bank is very positive about TSLA and gave it a "$1200.00 - $1250.00" rating on Apr 22, 2022. The price target was changed from 1005.00 to 0.38.Over the last 90 days, this security got 11 buy, 2 sell, and 0 hold ratings.
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 $854.31 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 13.77% during the next 3 months and, with a 90% probability hold a price between $971.94 and $1362.67 at the end of this 3-month period.
There are few to no technical positive signals at the moment. 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 $895.41 and $990.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 04, 2022, and so far it has fallen -23.76%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Tesla finds support from accumulated volume at $870.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $87.90 between high and low, or 10.25%. For the last week, the stock has had a daily average volatility of 7.29%.
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.