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Tesla stock price down 1.41% on Thursday

StockInvest.us, 3 weeks ago

Tesla

The Tesla stock price fell by -1.41% on the last day (Thursday, 26th Aug 2021) from $711.20 to $701.16. During the day the stock fluctuated 2.55% from a day low at $697.62 to a day high of $715.40. The price has been going up and down for this period, and there has been a -2.92% loss for the last 2 weeks. Volume has increased on the last day by 627 thousand 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, 13 million shares were bought and sold for approximately $9.18 billion.

On August 23, 2021 "Morgan Stanley" gave "C$900.00" rating for TSLA. The price target was set to $706.30+3.8%.

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 16.71% during the next 3 months and, with a 90% probability hold a price between $784.21 and $862.54 at the end of this 3-month period.

Tesla

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, August 12, 2021, and so far it has fallen -2.92%. 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. 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 $695.70 and $681.85. A breakdown below any of these levels will issue sell signals.

Tesla finds support from accumulated volume at $679.82 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 $17.78 (2.55%) between high and low. For the last week, the stock has had a daily average volatility of 2.71%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tesla stock to perform well in the short-term.

Check full Tesla forecast and analysis here.