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The Tesla stock price gained 4.54% on the last trading day (Thursday, 2nd Jun 2022), rising from $740.37 to $774.01. During the day the stock fluctuated 9.15% from a day low at $726.20 to a day high of $792.63. The price has been going up and down for this period, and there has been a 9.04% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately $22.19 billion.
The last rating was given by Goldman Sachs on Jun 01, 2022. The price target was changed from 740.37 to 2.36.Over the last 90 days, this security got 11 buy, 7 sell, and 1 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -18.34% during the next 3 months and, with a 90% probability hold a price between $495.50 and $816.11 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Tuesday, May 24, 2022, and so far it has risen 23.22%. Further rise is indicated until a new top pivot has been found. 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 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 $832.25. On a fall, the stock will find some support from the short-term average at $718.14. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $728.00 and $707.73.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 $728.00. If this is broken, then the next support from accumulated volume will be at $707.73 and $663.90.
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 $66.43 between high and low, or 9.15%. For the last week, the stock has had a daily average volatility of 7.25%.
Tesla holds several negative signals and we believe that 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.