Tesla stock price up 0.481% on Tuesday

The Tesla stock price gained 0.481% on the last trading day (Tuesday, 17th Sep 2024), rising from $226.78 to $227.87. During the last trading day the stock fluctuated 3.54% from a day low at $226.55 to a day high of $234.57. The price has risen in 8 of the last 10 days and is up by 8.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $15.09 billion.

On Sep 13, 2024, it was reported that Guggenheim gave TSLA a "Sell" grade with a "hold" action.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tesla stock with a 90% probability to be traded between $191.38 and $262.68 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Mostly positive signals in the chart today. 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 $226.47 and $214.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024, and so far it has risen 18.83%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $215.99 and $210.73.There is a 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 $215.99. If this is broken, then the next support from accumulated volume will be at $210.73 and $209.86.

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 $8.02 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 3.59%.

Several short-term signals 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 period.