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

The Tesla stock price gained 2.87% on the last trading day (Thursday, 30th Jan 2025), rising from $389.10 to $400.28. During the last trading day the stock fluctuated 7.31% from a day low at $384.41 to a day high of $412.50. The price has fallen in 7 of the last 10 days and is down by -6.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 million more shares were traded than the day before. In total, 97 million shares were bought and sold for approximately $38.88 billion.

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

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 $381.09 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 35.44% during the next 3 months and, with a 90% probability hold a price between $516.13 and $740.30 at the end of this 3-month period.

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $402.67 and $417.31. 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 -16.58%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $350.00 and $328.49.There is a 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 $350.00. If this is broken, then the next support from accumulated volume will be at $328.49 and $321.22.

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 $28.09 between high and low, or 7.31%. For the last week, the stock has had daily average volatility of 4.44%.

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.