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Tesla stock price ended on $781.31 on Wednesday after gaining 0.48%

StockInvest.us, 2 months ago

Tesla

The Tesla stock price gained 0.48% on the last trading day (Wednesday, 29th Sep 2021), rising from $777.56 to $781.31. During the day the stock fluctuated 2.96% from a day low at $770.68 to a day high of $793.50. The price has risen in 8 of the last 10 days and is up by 3.37% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 21 million shares were bought and sold for approximately $16.13 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On September 23, 2021 "Tudor, Pickering, Holt & Co." gave "$537.00" rating for TSLA. The price target was set to $753.79+0.2%.

The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $795.29 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 18.44% during the next 3 months and, with a 90% probability hold a price between $858.29 and $941.94 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 Monday, September 27, 2021, and so far it has fallen -1.27%. 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). 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 $767.08 and $731.57. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $709.67 and $677.35.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 $709.67. If this is broken, then the next support from accumulated volume will be at $677.35 and $644.78.

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 $22.82 (2.96%) between high and low. For the last week, the stock has had a daily average volatility of 3.22%.

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.