Bullish vs. Bearish (560 opinions)
Social Sentiment 0.04
TSLA Forecast and Technical Stock Analysis
Buy candidate since 2019-10-11 Gain 3.66% PDF
Tesla Motors gained 3.66% in the last trading day ( Monday, 14th Oct 2019 ), rising from $247.89 to $256.96 , and has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 4.62% from a day low at $247.13 to a day high of $258.55. The price has risen in 7 of the last 10 days and is up by 6.68% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.72 million more shares were traded than the day before. In total, 10.19 million shares bought and sold for approximately $2 617.85 million.
- 30 day high of the TSLA stock price was $258.55 and low was $218.36.
- 90 day high was $266.07 and low was $211.00.
- 52 week high for Tesla Motors - $379.49 and low - $176.99.
Tesla Motors is at the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity but a break-up through the top trend line at $263.14 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend, you can expect Tesla Motors with a 90% probability to be traded between $208.78 and $261.19 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Tesla Motors holds buy signals from both short- and long-term moving averages. In addition, 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 $243.33 and $236.04. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday October 04, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $233.03 and $228.82.
There is 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 Motors finds support just below today's level at $233.03. If this is broken, then the next support from accumulated volume will be at $228.82 and $223.21.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $11.42 (4.62%) between high and low. For the last week, the stock has had daily average volatility of 3.27%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Tesla Motors has been rising for 7 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $247.27 (-3.77%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 6 days ago.)
3.27 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.
Also 74% of user sentiment are positive to the stock. The sentiment is based upon 560 votes on StockTwits.
|TSLA $256.96 ($9.07 3.66%)|
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