Tesla stock upgraded to Hold/Accumulate.StockInvest.us, 4 months ago
No changes to the price of Tesla stock on the last trading day (Tuesday, 10th May 2022). During the day the stock fluctuated 0% from a day low at $787.11 to a day high of $787.11. The price has fallen in 5 of the last 10 days and is down by -10.19% for this period.
Deutsche Bank is very positive about TSLA and gave it a "$1200.00 - $1250.00" rating on Apr 22, 2022. The price target was changed from 1005.00 to 0.38.Over the last 90 days, this security got 11 buy, 2 sell, and 0 hold ratings.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $788.97. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Monday, May 09, 2022, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tesla stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $868.28 and $983.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Tesla finds support from accumulated volume at $766.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 4.70%
Tesla holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full Tesla forecast and analysis here.