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Stronger technical forecast for Tesla stock price after Thursday trading.

StockInvest.us, 3 months ago


The Tesla stock price gained 1.39% on the last trading day (Thursday, 7th Oct 2021), rising from $782.75 to $793.61. , 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 2.76% from a day low at $783.38 to a day high of $805.00. The price has risen in 6 of the last 10 days and is up by 5.3% over the past 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, 19 million shares were bought and sold for approximately $14.99 billion.

On Oct 07, 2021 "JPMorgan Chase & Co." gave "$215.00" rating for TSLA. The price target was set to $782.75+0.3%.

The stock lies in the middle of a strong 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 21.08% during the next 3 months and, with a 90% probability hold a price between $901.86 and $978.31 at the end of this 3-month period.


Mostly positive signals in the chart today. 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 $781.50 and $745.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, August 17, 2021, and so far it has risen 19.21%. Further rise is indicated until a new top pivot has been found. 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.

Tesla finds support from accumulated volume at $781.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $21.62 (2.76%) between high and low. For the last week, the stock has had a daily average volatility of 2.74%.

Tesla holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Tesla forecast and analysis here.