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Tesla stock price ended on $705.21 on Thursday after losing 0.43%

StockInvest.us, 3 months ago

Tesla

The Tesla stock price fell by -0.43% on the last day (Thursday, 23rd Jun 2022) from $708.26 to $705.21. and has now fallen 3 days in a row. During the day the stock fluctuated 4.67% from a day low at $685.91 to a day high of $717.95. The price has fallen in 6 of the last 10 days and is down by -2.81% for this period. Volume has increased on the last day by 1 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, 35 million shares were bought and sold for approximately $24.52 billion.

The last rating was given by RBC Capital on Jun 13, 2022. The price target was changed from 1175 to 1100.Over the last 90 days, this security got 13 buy, 9 sell, and 1 hold ratings.

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 $663.38, a level that may pose a second chance to hit a runner. According to fan-theory $856.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Tesla

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 $728.02. On a fall, the stock will find some support from the short-term average at $682.26. 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 Thursday, June 02, 2022, and so far it has fallen -8.89%. 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 $699.00 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 $32.04 between high and low, or 4.67%. For the last week, the stock has had a daily average volatility of 6.07%.

Tesla holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Check full Tesla forecast and analysis here.