Tesla Stock Forecast

Buy or Hold candidate since Oct 24, 2024 Gain 37.09%

The Tesla stock price experienced a gain of 3.46% on the most recent trading day (Monday, December 2nd, 2024), increasing from $345.16 to $357.09. Throughout the trading day, the stock showed a fluctuation of 2.52%, with a low of $351.15 and a high of $360.00. The price has exhibited volatility over this period, resulting in an 11.34% increase over the last two weeks. There was a rise in volume on the last day alongside the price, indicating a positive technical signal, with 36 million more shares traded compared to the previous day. In total, 73 million shares were exchanged for roughly $26.00 billion.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $349.89, a level that may pose a second chance to hit a runner. According to fan-theory $431.97 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Investment opportunities can be found at any hour. So, react immediately to market-moving news and capture more market opportunities when convenient for you. You can trade over 10,000 US Stocks and ETFs, US Equity Index options, US Treasuries – and more - around the clock. Interactive Brokers’ dual market centers ensure reliable and dependable overnight trading on your timetable. (Member SIPC)

TSLA Signals & Forecast

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 $343.45 and $286.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 23, 2024, and so far it has risen 67.14%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Tesla stock

Tesla finds support from accumulated volume at $350.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $8.85 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 4.20%.

Our recommended stop-loss: $343.02 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (TSLA) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Tesla Inc. to open at $356.08, and during the day (based on 14 day Average True Range), to move between $340.50 and $373.68, which gives a possible trading interval of +/-$16.59 (+/-4.65%) up or down from last closing price. If Tesla Inc. takes out the full calculated possible swing range there will be an estimated 9.29% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $350.00, some $7.09 (1.99%) from the current price of $357.09, our system finds the risk reward attractive.

Is Tesla Inc. stock A Buy?

Tesla holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.369 Strong Buy Candidate Upgraded

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $356.08 ( 0.283%).