Tesla stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.

The Tesla stock price gained 4.81% on the last trading day (Wednesday, 26th Jun 2024), rising from $187.35 to $196.37. During the last trading day the stock fluctuated 6.11% from a day low at $186.36 to a day high of $197.76. The price has risen in 6 of the last 10 days and is up by 15.07% 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, 32 million more shares were traded than the day before. In total, 95 million shares were bought and sold for approximately $18.61 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 upper part of a very wide and weak 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 $205.65 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 9.58% during the next 3 months and, with a 90% probability hold a price between $169.96 and $225.35 at the end of this 3-month period.

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 $186.17 and $178.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 38.24%. 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.

Tesla finds support from accumulated volume at $194.05 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 $11.40 (6.11%) between high and low. For the last week, the stock has had daily average volatility of 3.49%.

Tesla holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.