Stronger technical forecast for Tesla stock price after Monday trading.

The Tesla stock price gained 3.03% on the last trading day (Monday, 10th Jan 2022), rising from $1026.96 to $1058.12. During the day the stock fluctuated 8.07% from a day low at $980.00 to a day high of $1059.10. The price has fallen in 8 of the last 10 days and is down by -3.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately $31.83 billion.

On Jan 05, 2022 "Mizuho" gave "$950.00 - $1,300.00" rating for TSLA. The price target was changed from $1,142.19 to 0.6%.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 9.88% during the next 3 months and, with a 90% probability hold a price between $1000.07 and $1444.20 at the end of this 3-month period.

The Tesla stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $1092.01. On a fall, the stock will find some support from the long-term average at approximately $1053.87. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month 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 Thursday, November 04, 2021, and so far it has fallen -13.97%. Further fall is indicated until a new bottom pivot has been found.

Tesla finds support from accumulated volume at $1024.86 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 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 $79.10 between high and low, or 8.07%. For the last week, the stock has had a daily average volatility of 7.51%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tesla stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

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