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The Tesla stock price gained 1.77% on the last trading day (Wednesday, 22nd Feb 2023), rising from $197.37 to $200.86. During the last trading day the stock fluctuated 5.32% from a day low at $191.78 to a day high of $201.99. The price has risen in 6 of the last 10 days and is up by 2.06% 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, 10 million more shares were traded than the day before. In total, 190 million shares were bought and sold for approximately $38.16 billion.
Barclays is very positive about TSLA and gave it a "" rating on Feb 15, 2023. The price target was set to 275.Over the last 90 days, this security got 9 buy, 21 sell, and 2 hold ratings.
The stock lies in the upper part of a very wide and 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 $216.07 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 14.6% during the next 3 months and, with a 90% probability hold a price between $141.76 and $247.62 at the end of this 3-month period.
The Tesla stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $203.82. On a fall, the stock will find some support from the long-term average at approximately $161.92. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, February 15, 2023, and so far it has fallen -6.25%. 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 $189.98 and $177.90.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 $189.98. If this is broken, then the next support from accumulated volume will be at $177.90 and $160.27.
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 $10.21 between high and low, or 5.32%. For the last week, the stock has had daily average volatility of 5.84%.
Tesla holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Check full Tesla forecast and analysis here.