Strong day for Tesla stock price on Thursday rising 7.43% to $707.73

The Tesla stock price gained 7.43% on the last trading day (Thursday, 26th May 2022), rising from $658.80 to $707.73. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 9.95% from a day low at $653.66 to a day high of $718.67. The price has been going up and down for this period, and there has been a -2.78% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 35 million shares were bought and sold for approximately $24.94 billion.

The last rating was given by Jefferies on May 26, 2022. The price target was set to 707.73+7.43.Over the last 90 days, this security got 11 buy, 6 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 -14.42% during the next 3 months and, with a 90% probability hold a price between $532.74 and $890.71 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Tuesday, May 24, 2022, and so far it has risen 12.67%. Further rise is indicated until a new top pivot has been found. 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 $861.20. On a fall, the stock will find some support from the short-term average at $678.96. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Tesla finds support from accumulated volume at $674.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $65.01 between high and low, or 9.95%. For the last week, the stock has had a daily average volatility of 8.66%.

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.