Tesla (TSLA) Potential To Reach $220 and beyond
$Tesla Motors(TSLA)$ stock prices have been on the uptrend recently after Ford EVs to join the Tesla charging station. This is a good move as it open up the possibility of other EVs to use Tesla charging station.
If we have a look on how the stock price have moved since the news, it has been on the upward trend. There will be more upside as Tesla CEO is currently in China, I believe more cooperation and partnership might be coming.
I believe that the EV space will be less of competition and move towards collaboration. This would save money and time. The objective for all EVs hopefully could be the same, a green and energy saving vehicles.
Let us take a look at how Tesla price and stock have been in the market.
Tesla (TSLA) Price Forecast - 12 months
I believe in the near term, we can see $220 within the next few weeks, as things are getting better with Tesla CEO focusing on growing their collaboration.
Tesla (TSLA) Insider Transaction
There has been shares bought in the last 3 months by corporate insiders, which mean that faith and interest in Tesla (TSLA) growth is still strong.
Tesla (TSLA) Hedge Fund Movement
There has been increase of 616.2K shares by hedge funds in the last quarter. I would expect this number to pick up as hedge funds will be coming back to load more of Tesla (TSLA) shares.
Tesla (TSLA) Pivot Point
The current price is much higher than its pivot price, which make the current price stronger. This would mean that TSLA could go higher.
Tesla (TSLA) Technical Analysis - Moving Averages
Based on the SMA and EMA, Tesla’s (TSLA) 10-Day exponential moving average is 181.75, while Tesla’s (TSLA) share price is $201.16, making it a Buy.
Tesla’s (TSLA) 100-Day exponential moving average is 180.99, while Tesla’s (TSLA) share price is $201.16, making it a Buy.
Tesla’s (TSLA) stock price is $201.16 and Tesla’s (TSLA) 50-day simple moving average is 178.74, creating a Buy signal.
Tesla’s (TSLA) stock price is $201.16 and Tesla’s (TSLA) 100-day simple moving average is 175.32, creating a Buy signal.
Tesla’s (TSLA) stock price is $201.16 and Tesla’s (TSLA) 200-day simple moving average is 200.22, creating a Sell signal.
Tesla (TSLA) Investors Sentiment and holdings
Investors are positive about Tesla (TSLA) price and growth, investors with TSLA in their portfolio have been increasing their holdings.
This can also been seen from the trading activities picked up from Trading View.
Summary
I will be looking to increase my holding for TSLA when the price adjust to around $200. I believe it will go up to $220 in a few weeks time.
Appreciate if you could share your thoughts in the comment section whether you will be looking to buy TSLA.
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Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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Tesla is constantly innovating and developing new technologies. This gives the company a competitive advantage over its rivals.
It is possible that Tesla stock could reach $220 and beyond in the future.
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If Tesla continues to execute on its business plan and meet or exceed expectations, the stock price is likely to rise.
With $7500 rebate returning to Model 3, Elon's China trip success, & debt ceiling agreement; I see at least 2 more weeks of near vertical growth.
Tesla bull Sam Korus of ARK Invest argues that the Cybertruck will become a mainstream product that could even become more popular than the Model Y, according to a report from inside EVs.
Tesla holders, this company is just getting started, their vehicles will remain the iPhone like of phones but in the EV industry...
Tesla aye? Gummon$$$
Come on, the Tesla Model Y outsold every other car on the planet in Q1 2023.