Tesla stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.

The Tesla stock price gained 4.68% on the last trading day (Friday, 12th Aug 2022), rising from $859.89 to $900.09. During the last trading day the stock fluctuated 5.31% from a day low at $855.10 to a day high of $900.48. The price has risen in 7 of the last 10 days and is up by 0.97% 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, 3 million more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $23.76 billion.

Citigroup is very positive about TSLA and gave it a "$375.00 - $424.00" rating on Aug 02, 2022. The price target was changed from 375 to 424.Over the last 90 days, this security got 13 buy, 14 sell, and 1 hold ratings.

The stock lies in the middle of a wide and 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 24.39% during the next 3 months and, with a 90% probability hold a price between $940.05 and $1174.01 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 $879.25 and $785.23. 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 Thursday, August 04, 2022, and so far it has fallen -2.79%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $815.12 and $711.11.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 $815.12. If this is broken, then the next support from accumulated volume will be at $711.11 and $699.00.

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 $45.38 between high and low, or 5.31%. For the last week, the stock has had a daily average volatility of 4.98%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.