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The Tesla stock price fell by -1.53% on the last day (Wednesday, 15th Mar 2023) from $183.26 to $180.45. During the last trading day the stock fluctuated 3.58% from a day low at $176.03 to a day high of $182.34. The price has fallen in 6 of the last 10 days and is down by -11.01% for this period. Volume has increased on the last day by 2 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, 145 million shares were bought and sold for approximately $26.17 billion.
Wolfe Research does not see either upside or downside right now giving TSLA "" on their last update on Mar 13, 2023. The price target was set to 0.Over the last 90 days, this security got 15 buy, 19 sell, and 4 hold ratings.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $187.23. A reaction back to this level may hold a second chance to get out before further falls.
There are few to no technical positive signals at the moment. The Tesla stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $190.22. On a fall, the stock will find some support from the short-term average at $179.18. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, February 15, 2023, and so far it has fallen -15.77%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Tesla finds support from accumulated volume at $177.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $6.31 between high and low, or 3.58%. For the last week, the stock has had daily average volatility of 5.75%.
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.
Check full Tesla forecast and analysis here.