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The Tesla stock price fell by -6.75% on the last day (Thursday, 13th Jan 2022) from $1106.22 to $1031.56. During the day the stock fluctuated 8.55% from a day low at $1026.89 to a day high of $1114.70. The price has fallen in 6 of the last 10 days and is down by -3.62% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 million shares and in total, 0 shares were bought and sold for approximately $0 .
On Jan 05, 2022 "Mizuho" gave "$950.00 - $1,300.00" rating for TSLA. The price target was changed from $1,142.19 to 0.6%.
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 4.85% during the next 3 months and, with a 90% probability hold a price between $960.27 and $1336.66 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. On corrections up, there will be some resistance from the lines at $1062.87 and $1048.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, January 12, 2022, and so far it has fallen -6.75%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Tesla finds support from accumulated volume at $1024.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $87.81 between high and low, or 8.55%. For the last week the stock has had a daily average volatility of 6.23%
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.
Check full Tesla forecast and analysis here.