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Tesla stock price ended on $952.62 on Wednesday after gaining 4.77%

StockInvest.us, 3 weeks ago

Tesla

The Tesla stock price gained 4.77% on the last trading day (Wednesday, 4th May 2022), rising from $909.25 to $952.62. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 7.93% from a day low at $885.28 to a day high of $955.50. The price has been going up and down for this period, and there has been a -2.52% loss 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, 6 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $26.23 billion.

Deutsche Bank is very positive about TSLA and gave it a "$1200.00 - $1250.00" rating on Apr 22, 2022. The price target was changed from 1005.00 to 0.38.Over the last 90 days, this security got 11 buy, 2 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 14.87% during the next 3 months and, with a 90% probability hold a price between $987.38 and $1378.22 at the end of this 3-month period.

Tesla

There are mixed signals in the stock today. 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 $989.49. On a fall, the stock will find some support from the short-term average at $895.86. 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 Monday, April 04, 2022, and so far it has fallen -16.83%. 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 is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $877.51 and $876.42.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 $877.51. If this is broken, then the next support from accumulated volume will be at $876.42 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 $70.22 between high and low, or 7.93%. For the last week, the stock has had a daily average volatility of 7.15%.

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.