Tesla Stock Direction
Tesla’s stock, after facing some recent challenges, may be gearing up for a potential bull run. Over the past week, Tesla stock has experienced a slight dip of 6 cents to 185, following a significant decline of 10.8% in the prior week. However, shares have encountered resistance at the 21-day and 50-day moving averages, indicating a potential barrier for further upward momentum.
One factor that may be causing concern for investors is that Tesla’s stock has formed a cup-with-handle base below the 200-day moving average, which is not considered an ideal technical pattern. The 200-day moving average is a widely followed indicator that is often used to assess the overall trend of a stock. The fact that Tesla’s stock is trading below this key level could be seen as a cautionary sign for some investors.
However, despite these challenges, there are still some potential bullish scenarios to consider. Tesla’s stock currently has a buy point of 207.89, which could be a signal for a potential breakout if the stock manages to move decisively above this level. Additionally, another possibility for early entry could be if Tesla’s stock breaks above the 50-day moving average on positive earnings news, providing some room for potential gains before reaching the 200-day moving average, which is currently below 213.
While Tesla’s stock has faced some challenges in recent weeks, there are still potential bullish scenarios to consider, including a potential breakout above the 200-day moving average or a positive earnings-driven move above the 50-day moving average. The Bull Run that started in early 2023 maybe yet to continue.
TSLA Stock Forecast & Analysis
According to 47 analysts, the average target price for Tesla Inc stock over the next 12 months is USD 215.39, with a Buy rating on average. Stock Target Advisor’s analysis of Tesla Inc indicates a Slightly Bullish outlook based on 11 positive signals and 5 negative signals. Tesla Inc’s stock price at the last closing was USD 185.00, with a change of -0.03% over the past week, +0.47% over the past month, and -43.65% over the last year.