Tesla, Inc. Stock Forecast
Stronger technical forecast for Tesla, Inc. stock price after Monday trading.
(Updated on May 20, 2024)
The Tesla, Inc. stock price fell by -1.85% on the last day (Monday, 20th May 2024) from 163.66€ to 160.64€. During the last trading day the stock fluctuated 2.80% from a day low at 160.00€ to a day high of 164.48€. The price has fallen in 7 of the last 10 days and is down by -5.76% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 23 thousand shares were bought and sold for approximately 3.72€ million.
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 -8.50% during the next 3 months and, with a 90% probability hold a price between 116.29€ and 160.02€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TL0.DE Signals & Forecast
The Tesla, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 160.98€. On a fall, the stock will find some support from the long-term average at approximately 157.95€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Monday, April 29, 2024, and so far it has fallen -10.10%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tesla, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at 150.96€ and 149.80€. 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, Inc. finds support just below today's level at 150.96€. If this is broken, then the next support from accumulated volume will be at 149.80€ and 132.24€.
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 4.48€ between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: 153.28€ (-4.58%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (TL0.DE) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Tesla, Inc. to open at 161.71€, and during the day (based on 14 day Average True Range), to move between 153.50€ and 167.78€, which gives a possible trading interval of +/-7.14€ (+/-4.45%) up or down from last closing price. If Tesla, Inc. takes out the full calculated possible swing range there will be an estimated 8.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 164.50€ (2.40%) than the support at 150.96€ (6.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tesla, Inc. stock A Buy?
Tesla, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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.
Current score: 0.020 Hold/Accumulate Upgraded
Predicted Opening Price for Tesla, Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| 161.71€ ( 0.664%) | 160.64€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TL0.DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.19 | 3.45 % | |
| R2 | 164.48 | 2.39 % | ||
| R1 | 163.42 | 1.73 % | ||
| Current price: | 160.64 | |||
| Support | S1 | 160.00 | -0.401 % | |
| S2 | 158.94 | -1.06 % | ||
| S3 | 157.23 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 178.68 | 11.23 % | |
| R2 | 173.20 | 7.82 % | ||
| R1 | 164.50 | 2.40 % | ||
| Current price | 160.64 | |||
| Support | S1 | 150.96 | -6.03% | |
| S2 | 149.80 | -6.75% | ||
| S3 | 132.24 | -17.68% |
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