Strong day for Tesla stock price on Tuesday rising 5.03% to $183.26

The Tesla stock price gained 5.03% on the last trading day (Tuesday, 14th Mar 2023), rising from $174.48 to $183.26. It 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 last trading day the stock fluctuated 3.76% from a day low at $177.14 to a day high of $183.80. The price has fallen in 6 of the last 10 days and is down by -10.91% for this period. Volume fell on the last day by -26 million shares and in total, 143 million shares were bought and sold for approximately $26.26 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

Wolfe Research does not see either upside or downside right now giving TSLA "" on their last update on Mar 13, 2023. The price target was set to 0.Over the last 90 days, this security got 15 buy, 20 sell, and 4 hold ratings.

The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $184.70. A reaction back to this level may hold a second chance to get out before further falls.

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $189.18. On a fall, the stock will find some support from the short-term average at $181.09. 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. A sell signal was issued from a pivot top point on Wednesday, February 15, 2023, and so far it has fallen -14.46%. 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).

Tesla finds support from accumulated volume at $177.90 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 $6.66 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 5.75%.

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.