Thu 02'nd Aug 2018
Tesla Motors Stock Analysis
Technical stock analysis for Thu 02'nd Aug 2018
|Shorts||3.66% ( 2018-07-13 )|
|Cash||6 897.9 mill|
|Loans||20 323.6 mill|
Tesla Motors gained 16.19% in the last trading day, rising from $300.84 to $349.54, and has now gained 4 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. The price has fallen in 6 of the last 10 days, but is still up by 9.15% 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, 14.41 million more shares were traded than the day before. In total, 23.16 million shares bought and sold for approximately $8 094.59 million.
Tesla Motors lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.59% during the next 3 months and, with 90% probability hold a price between $313.56 and $419.54 at the end of this period.
Only positive signals in the chart today. Tesla Motors holds buy signals from both short- and long-term moving averages, 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 $307.32 and $325.62. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday July 30, 2018, 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)
RSI14 is 61 and the stock is currently not being overbought or oversold
Support & Resistance
Tesla Motors finds support from accumulated volume at $342.77.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $26.83 (8.30%) between high and low. For the last week, the stock has had a daily average volatility of 4.52%.
Our recommended stoploss: $334.96 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
Very Low Low Medium High Very High
Several short-term signals, along with a general good trend, 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. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.Click for Top 5 Buy Candidates