Tesla stock price ended on $1010.64 on Friday after losing 0.32%StockInvest.us, 1 month ago
The Tesla stock price fell by -0.32% on the last day (Friday, 25th Mar 2022) from $1013.92 to $1010.64. During the day the stock fluctuated 2.45% from a day low at $997.32 to a day high of $1021.80. The price has risen in 8 of the last 10 days and is up by 27.07% over the past 2 weeks. 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 -2 million shares and in total, 21 million shares were bought and sold for approximately $20.83 billion.
On Feb 28, 2022 "Sanford C. Bernstein" gave "$300.00 - $450.00" rating for TSLA. The price target was set to $870.43+7.5%.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1010.02, a level that may pose a second chance to hit a runner. According to fan-theory $1341.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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 $959.40 and $875.39. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 24, 2022, and so far it has fallen -0.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
On the downside, the stock finds support just below today's level from accumulated volume at $930.00 and $829.10.There is 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 $930.00. If this is broken, then the next support from accumulated volume will be at $829.10 and $800.77.
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 $24.48 between high and low, or 2.45%. For the last week, the stock has had a daily average volatility of 4.96%.
The Tesla stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.Check full Tesla forecast and analysis here.