Stronger technical forecast for Tesla stock price after Tuesday trading.

The Tesla stock price gained 1.74% on the last trading day (Tuesday, 12th Oct 2021), rising from $791.94 to $805.72. , 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 1.98% from a day low at $796.57 to a day high of $812.32. The price has risen in 6 of the last 10 days and is up by 3.62% 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, 8 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately $17.43 billion.

On Oct 08, 2021 "Canaccord Genuity" gave "$768.00 - $940.00" rating for TSLA. The price target was set to $793.61+1.4%.

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 21.94% during the next 3 months and, with a 90% probability hold a price between $921.26 and $998.63 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 $788.80 and $755.12. 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 21.03%. 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 $15.75 (1.98%) between high and low. For the last week, the stock has had a daily average volatility of 2.09%.

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.