Red day on Monday for Tesla

No changes to the price of Tesla stock on the last trading day (Monday, 7th Mar 2022). During the day the stock fluctuated 0% from a day low at $838.29 to a day high of $838.29. The price has fallen in 5 of the last 10 days and is down by -2.18% for this period.

On Feb 28, 2022 "Sanford C. Bernstein" gave "$300.00 - $450.00" rating for TSLA. The price target was set to $870.43+7.5%.

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 -18.29% during the next 3 months and, with a 90% probability hold a price between $571.48 and $844.84 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Friday, March 04, 2022, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 $848.63 and $896.37. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Tesla finds support from accumulated volume at $829.10 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 $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 3.88%

Tesla holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.