Tesla stock upgraded to Sell Candidate.StockInvest.us, 3 months ago
The Tesla stock price fell by -1.47% on the last day (Monday, 24th Jan 2022) from $943.90 to $930.00. and has now fallen 3 days in a row. During the day the stock fluctuated 9.64% from a day low at $851.47 to a day high of $933.51. The price has been going up and down for this period, and there has been a -9.44% loss for the last 2 weeks. Volume has increased on the last day by 16 million 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, 50 million shares were bought and sold for approximately $46.84 billion.
On Jan 18, 2022 "Credit Suisse Group" gave "$830.00 - $1,025.00" rating for TSLA. The price target was changed from $1,023.86 to 2.5%.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -8.05% during the next 3 months and, with a 90% probability hold a price between $792.35 and $1081.81 at the end of this 3-month period.
There are few to no technical positive signals at the moment. 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 $996.79 and $1027.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, January 03, 2022, and so far it has fallen -22.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Tesla finds support from accumulated volume at $926.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $82.04 between high and low, or 9.64%. For the last week, the stock has had a daily average volatility of 6.52%.
Tesla is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Tesla holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.Check full Tesla forecast and analysis here.