Tesla stock price up 2.61% on Tuesday

The Tesla stock price gained 2.61% on the last trading day (Tuesday, 25th Jun 2024), rising from $182.58 to $187.35. During the last trading day the stock fluctuated 3.27% from a day low at $182.01 to a day high of $187.97. The price has been going up and down for this period, and there has been a 7.8% gain 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, 2 million more shares were traded than the day before. In total, 63 million shares were bought and sold for approximately $11.77 billion.

On Jun 25, 2024, it was reported that New Street gave TSLA a "Buy" grade with a "hold" action.

The stock lies in the middle of a very wide and weak 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 8.25% during the next 3 months and, with a 90% probability hold a price between $165.71 and $220.64 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 $183.55 and $177.95. A breakdown below any of these levels will issue sell signals. 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. 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, April 29, 2024, and so far it has fallen -3.45%. Further fall is indicated until a new bottom pivot has been found.

Tesla finds support from accumulated volume at $183.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $5.96 (3.27%) between high and low. For the last week, the stock has had daily average volatility of 2.80%.

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.