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Stronger technical forecast for Tesla stock price after Monday trading.

StockInvest.us, 4 months ago


The Tesla stock price gained 4.38% on the last trading day (Monday, 12th Jul 2021), rising from $656.95 to $685.70. , and has now gained 4 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 3.79% from a day low at $662.16 to a day high of $687.24. The price has been going up and down for this period, and there has been a 2.06% gain 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, 8 million more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $17.56 billion.

Morgan Stanley is very positive about TSLA and gave it a "Buy" rating on July 07, 2021. The price target was set to $900.00.Over the last 30 days, this security got 4 buy, 2 sell, and 1 hold ratings.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $678.54, a level that may pose a second chance to hit a runner. According to fan-theory $834.33 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.


The Tesla stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $665.22 and $631.88. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, June 28, 2021, and so far it has fallen -0.44%. Further fall is indicated until a new bottom pivot has been found.

Tesla finds support from accumulated volume at $679.82 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 $25.08 between high and low, or 3.79%. For the last week, the stock has had a daily average volatility of 4.15%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Check full Tesla forecast and analysis here.