Volatile ride for Tesla stock price on Wednesday moving between $427.02 and $488.54

The Tesla stock price fell by -8.28% on the last day (Wednesday, 18th Dec 2024) from $479.86 to $440.13. During the last trading day the stock fluctuated 14.41% from a day low at $427.02 to a day high of $488.54. The price has risen in 8 of the last 10 days and is up by 22.97% over the past 2 weeks. Volume has increased on the last day by 14 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, 140 million shares were bought and sold for approximately $61.58 billion.

On Dec 11, 2024, it was reported that Goldman Sachs gave TSLA a "Neutral" grade with a "hold" action.

The stock lies in the middle of a very 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 75.53% during the next 3 months and, with a 90% probability hold a price between $600.91 and $848.07 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 $437.59 and $347.14. 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). 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 Tuesday, December 17, 2024, and so far it has fallen -8.28%. 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 $338.74.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 $338.74 and $330.24.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $61.52 between high and low, or 14.41%. For the last week, the stock has had daily average volatility of 6.96%.

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.