To The Moon

The Tesla $Tesla Motors(TSLA)$ stock price fell by -3.01% on Wednesday, 9th Aug 2023 from $249.70 to $242.19. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.80% from a day low at $241.90 to a day high of $251.10. The price has fallen in 7 of the last 10 days and is down by -8.38% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 100 million shares were bought and sold for approximately $24.17 billion.

Given the current short-term trend, the stock is expected to rise 47.61% during the next 3 months and, with a 90% probability hold a price between $357.50 and $472.32 at the end of this 3-month period.

TSLA Signals & Forecast

There are few to no technical positive signals at the moment. The Tesla stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $253.10 and $265.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, July 18, 2023, and so far it has fallen -17.44%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Tesla stock

Tesla finds support from accumulated volume at $241.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $9.20 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 3.73%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TSLA) For The Trading Day Of Thursday 10th

For the trading day on Thursday, 10th we expect Tesla Inc. to open at $245.06, and during the day (based on 14 day Average True Range), to move between $231.98 and $252.40, which gives a possible trading interval of +/-$10.21 (+/-4.22%) up or down from last closing price. If Tesla Inc. takes out the full calculated possible swing range there will be an estimated 8.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $241.05 (0.47%) than the resistance at $244.40 (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Insiders are very negative selling more shares than they are buying in Tesla

In the last 100 trades there were 588.38 thousand shares bought and 2.43 million shares sold. The last trade was made 6 days ago by Taneja Vaibhav who sold 4 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.

Is Tesla Inc. stock A Buy?

The Tesla stock holds several negative signals and despite the positive trend, we believe Tesla will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.