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Red day on Thursday for Tesla

StockInvest.us, 3 months ago

Tesla

The Tesla stock price fell by -1.60% on the last day (Thursday, 3rd Feb 2022) from $905.66 to $891.14. and has now fallen 4 days in a row. During the day the stock fluctuated 6.41% from a day low at $880.52 to a day high of $937.00. The price has fallen in 7 of the last 10 days and is down by -10.55% 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, 26 million shares were bought and sold for approximately $22.98 billion.

On Jan 31, 2022 "Credit Suisse Group" gave "$1,025.00" rating for TSLA. The price target was set to $936.72+10.7%.

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 -13.36% during the next 3 months and, with a 90% probability hold a price between $703.75 and $985.58 at the end of this 3-month period.

Tesla

A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 7.48%. 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 $896.80 and $1002.20. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $846.35 and $829.10.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $829.10 may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $56.48 between high and low, or 6.41%. For the last week, the stock has had a daily average volatility of 6.50%.

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.

Check full Tesla forecast and analysis here.