Tesla stock upgraded to Hold/Accumulate

The Tesla stock price fell by -3.58% on the last day (Wednesday, 5th Feb 2025) from $392.21 to $378.17. During the last trading day the stock fluctuated 3.42% from a day low at $375.53 to a day high of $388.39. The price has fallen in 6 of the last 10 days and is down by -8.9% for this period. Volume has increased on the last day by 227 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 57 million shares were bought and sold for approximately $21.38 billion.

On Jan 29, 2025, it was reported that Wedbush gave TSLA a "Outperform" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 21.50% during the next 3 months and, with a 90% probability hold a price between $459.49 and $643.82 at the end of this 3-month period.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $392.30 and $415.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, December 17, 2024, and so far it has fallen -21.19%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $350.00 and $321.22.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 $350.00. If this is broken, then the next support from accumulated volume will be at $321.22 and $288.53.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $12.86 between high and low, or 3.42%. For the last week, the stock has had daily average volatility of 4.52%.

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.