Tesla stock price up 0.81% on Monday

The Tesla stock price gained 0.81% on the last trading day (Monday, 4th Oct 2021), rising from $775.22 to $781.53. During the day the stock fluctuated 3.97% from a day low at $776.12 to a day high of $806.97. The price has risen in 7 of the last 10 days and is up by 7.03% 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, 14 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately $23.70 billion.

On Oct 04, 2021 "Royal Bank of Canada" gave "$745.00 - $755.00" rating for TSLA. The price target was set to $775.220.0%.

The stock lies in the middle of a 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 20.34% during the next 3 months and, with a 90% probability hold a price between $886.57 and $965.27 at the end of this 3-month period.

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 $779.55 and $736.86. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, September 27, 2021, and so far it has fallen -1.24%. 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).

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 $30.85 (3.97%) between high and low. For the last week, the stock has had a daily average volatility of 2.97%.

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.