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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of TSLA
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Stronger technical forecast for Tesla stock price after Wednesday trading.
(Updated on Feb 28, 2024)

Buy candidate since Feb 28, 2024 PDF

The Tesla stock price gained 1.16% on the last trading day (Wednesday, 28th Feb 2024), rising from $199.73 to $202.04. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.45% from a day low at $198.46 to a day high of $205.30. The price has risen in 7 of the last 10 days and is up by 9.79% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 99 million shares were bought and sold for approximately $19.96 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $210.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -26.23% during the next 3 months and, with a 90% probability hold a price between $119.13 and $154.95 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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TSLA Signals & Forecast

Mostly positive signals in the chart today. The Tesla stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $197.01 and $199.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 11.59%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Tesla stock

On the downside, the stock finds support just below today's level from accumulated volume at $190.93 and $182.63. 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 $190.93. If this is broken, then the next support from accumulated volume will be at $182.63 and $181.06.

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 $6.84 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 3.79%.

Our recommended stop-loss: $193.33 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (TSLA) For The Upcoming Trading Day Of Thursday 29th

For the upcoming trading day on Thursday, 29th we expect Tesla Inc. to open at $201.93, and during the day (based on 14 day Average True Range), to move between $194.15 and $209.93, which gives a possible trading interval of +/-$7.89 (+/-3.90%) up or down from last closing price. If Tesla Inc. takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $190.93 (5.50%) than the resistance at $238.72 (18.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tesla Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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.

Current score: 2.979 Buy Candidate Upgraded

Predicted Opening Price for Tesla Inc. of Thursday, February 29, 2024

Fair opening price February 29, 2024 Current price
$201.93 ( 0.0528%) $202.04

The predicted opening price is based on yesterday's movements between high, low, and closing price.

News Digest

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 208.77 3.33 %
R2 206.16 2.04 %
R1 204.55 1.24 %
Current price: 202.04
Support S1 199.32 -1.35 %
S2 197.71 -2.15 %
S3 195.09 -3.44 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 251.05 24.26 %
R2 239.29 18.44 %
R1 238.72 18.15 %
Current price 202.04
Support S1 190.93 -5.50%
S2 182.63 -9.61%
S3 181.06 -10.38%

FAQ

What is the symbol for Tesla Stock and on which exchange is it traded?
The symbol for Tesla is TSLA and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Tesla Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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.

How to buy Tesla Stock?
Tesla Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Tesla Stock.

What's the current price of Tesla Stock?
As of the end of day on the 2024-02-28, the price of an Tesla (TSLA) share was $202.04.

What is the 52-week high and low for Tesla Stock?
The 52-week high for Tesla Stock is $299.29 and the 52-week low is $152.37.

What is the market capitalization of Tesla Stock?
As of the 2024-02-28, the market capitalization of Tesla is 635.047B.

When is the next earnings date for Tesla?
The upcoming earnings date for Tesla is Apr 17, 2024.

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About Tesla Inc.

Tesla Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network... TSLA Profile

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