Sign InSummary
Tesla, Inc. (TSLA) closed at $251.92 on September 6, 2023, experiencing a drop of $4.57 (-1.78%) from its previous closing price, with technical indicators suggesting a slight upward movement towards the 50-day moving average but cautious due to bearish short-term momentum and potential volatility, while news of potential breach of privacy and optimistic manufacturing establishment in Mexico may affect stockholder sentiment.
Company Overview
Tesla, Inc. (TSLA) closed at \$251.92 on September 06, 2023, experiencing a drop of \$4.57 (-1.78%) from its previous closing price. The share has experienced a high and low of \$255.36 and \$245.06 respectively on the same day. Tesla's 52-week high stands significantly higher at \$313.8, while the 52-week low was at \$101.81.
Market Performance
Tesla boasts of a substantial market capitalization, standing at \$799.59 billion. It reported an enormous trading volume of 115.85 million shares, slightly less than the average volume of 128.8 million shares.
Technical Analysis
Tesla's RSI of 64 indicates a lean towards being overbought. The company's 50-day moving average (\$256.24) is marginally above the last close of \$251.92, while the 200-day moving average (\$198.92) is significantly lower, suggesting long-term bullishness.
The MACD, a momentum oscillator, stands at -8.88 revealing bearish short-term momentum. The stock's ATR of 4.35 indicates moderate volatility.
Tesla's stock has found support at \$244.4 and resistance at \$256.6 recently.
Fundamental Analysis
Tesla's earnings per share (EPS) is \$3.33. It is trading at 75.65 times its earnings (P/E ratio). The company has 3.17 billion shares outstanding.
Future Outlook
For the next trading day, September 07, 2023, given Tesla's technical indicators, it can be predicted that the stock might slightly go up towards the 50-day moving average. However, due to the bearish short-term momentum suggested by the MACD, the price might not breach the resistance level of \$256.6.
For the upcoming week, we could see a similar trend as the stock attempts to approach or even surpass its 50-day moving average with potential volatile shifts as indicated by its ATR.
Expert Analysis and News
The consensus on Tesla from a pool of experts leans toward a buy, with 22 recommending to buy, 7 to hold, only 2 to sell, and one strong buy.
However, concerning news was published about Tesla's potential breach of privacy through selling personal data collected from their vehicles, which may affect stockholder sentiment. In contrast, the company's prospective manufacturing establishment in Mexico by 2026 or 2027 might draw some optimism.
DCF Valuation
Tesla's discounted cash flow (DCF) value is \$258.3, higher than its current price, indicating that it might be undervalued.
Conclusion - Evaluation
Considering all factors including technical indicators, expert viewpoints, DCF analysis, and taking into account the bullish long-term but bearish short-term momentum, Tesla, Inc. can be categorized as a 'Hold'. However, investors need to remain aware of potential volatility, and the recent privacy concerns raised.
