Tesla stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session

The Tesla stock price fell by -3.48% on the last day (Friday, 7th Feb 2025) from $374.32 to $361.28. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.59% from a day low at $360.40 to a day high of $380.55. The price has fallen in 6 of the last 10 days and is down by -11.14% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 68 million shares were bought and sold for approximately $24.48 billion.

On Jan 29, 2025, it was reported that Wedbush gave TSLA a "Outperform" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 15.88% during the next 3 months and, with a 90% probability hold a price between $418.64 and $602.85 at the end of this 3-month period.

There are few to no technical positive signals at the moment. The Tesla stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $384.93 and $410.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, December 17, 2024, and so far it has fallen -24.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Tesla finds support from accumulated volume at $350.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $20.15 between high and low, or 5.59%. For the last week, the stock has had daily average volatility of 3.93%.

Tesla is oversold on RSI14 (22). Some stock may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The Tesla stock holds several negative signals and despite the positive trend, we believe Tesla will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.