Stronger technical forecast for Tesla stock price after Thursday trading.

The Tesla stock price gained 3.25% on the last trading day (Thursday, 21st Apr 2022), rising from $976.99 to $1008.78. During the day the stock fluctuated 9.44% from a day low at $996.44 to a day high of $1090.50. The price has risen in 6 of the last 10 days, but is still down by -3.54% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 million more shares were traded than the day before. In total, 34 million shares were bought and sold for approximately $34.75 billion.

RBC Capital is very positive about TSLA and gave it a "$1035.00 - $1175.00" rating on Apr 21, 2022. The price target was set to 1008.78+3.25.Over the last 30 days, this security got 9 buy, 1 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and 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 18.44% during the next 3 months and, with a 90% probability hold a price between $1004.14 and $1399.54 at the end of this 3-month period.

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 $1001.86 and $963.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 11, 2022, and so far it has risen 3.39%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $930.00 and $829.10.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tesla finds support just below today's level at $930.00. If this is broken, then the next support from accumulated volume will be at $829.10 and $800.77.

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 $94.06 between high and low, or 9.44%. For the last week, the stock has had a daily average volatility of 5.33%.

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.