Tesla stock price up 0.346% on Tuesday

StockInvest.us, 3 weeks ago


The Tesla stock price gained 0.346% on the last trading day (Tuesday, 30th Jan 2024), rising from $190.93 to $191.59. It has now gained 3 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 last trading day the stock fluctuated 3.02% from a day low at $190.61 to a day high of $196.36. The price has been going up and down for this period, and there has been a -12.88% loss for the last 2 weeks. Volume fell on the last day by -18 million shares and in total, 105 million shares were bought and sold for approximately $20.20 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 Jan 25, 2024, it was reported that RBC Capital gave TSLA a "Negative" grade with a "initialise" action.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $182.04 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -4.47% during the next 3 months and, with a 90% probability hold a price between $173.90 and $245.61 at the end of this 3-month period.


A buy signal was issued from a pivot bottom point on Thursday, January 25, 2024, and so far it has risen 4.91%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tesla stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $196.31 and $231.40. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Tesla finds support from accumulated volume at $190.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $5.75 between high and low, or 3.02%. For the last week, the stock has had daily average volatility of 3.96%.

Tesla is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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.