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Tesla stock down 2.01% on Monday

StockInvest.us, 1 year ago


The Tesla stock fell by -2.01% in the last day (Monday, 19th Oct 2020) from $439.67 to $430.83. and has now fallen 4 days in a row. During the day the stock fluctuated 4.23% from a day low at $428.87 to a day high of $447.00. The price has risen in 6 of the last 10 days and is up by 1.21% over the past 2 weeks. Volume has increased in the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 36 million shares were bought and sold for approximately $15.40 billion.

Wedbush does not see either upside or downside right now giving TSLA "Neutral" on their last update on October 19, 2020. The price target was set to $475.00 - $500.00.Over the last 30 days this security got 2 buy, 8 sell and 10 hold ratings.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $398.68 is broken, it will firstly indicate a slower rising rate, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 39.21% during the next 3 months and, with a 90% probability hold a price between $555.00 and $815.78 at the end of this 3-month period.


A sales signal was issued from a pivot top point on Monday August 31, 2020 , and it has fallen so far -13.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Tesla stock holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $443.38. On a fall, the stock will find some support from the long-term average at approximately $423.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.

Tesla finds support from accumulated volume at $418.32.

This stock have average movements during a day and with good trading volume the risk is considered as medium. During the last day, the stock moved $18.13 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 3.65%.

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Check full Tesla forecast and analysis here.