Tesla (TSLA) Stock Forecast: It will go bearish till the Support

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Tesla, Inc. is a transnational American automobile and sustainable energy corporation located in Austin, Texas. Tesla creates electric vehicles (cars and trucks), stationary battery energy storage systems ranging from residential to grid-scale, solar panels and solar roof tiles, and associated goods and services.

Tesla is one of the most valuable corporations in the world and, as of 2023, the most valuable carmaker. With an 18% market share in 2022, the business topped the battery electric car industry.

In 2008, Tesla began manufacturing its first automobile model, the Roadster sports car. The Model S sedan debuted in 2012, followed by the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, and the Tesla Semi vehicle in 2022. The Cyber Vehicle light-duty pickup truck will be manufactured by the business in 2023. 

Previous Values of the Tesla

Tesla stock finished at $242.58, with a total market cap of $768.86 billion (44 million shares outstanding). Tesla is listed on NASDAQ under the symbol TSLA. In the last 24 hours, the price of Tesla has increased by -1.12%. TesTesla’s stock price forecast is now optimistic.

Tesla’s stock price has been steadily rising over the last six months, yielding a 39.34% return to investors. Recently, the stock’s pre-results emotions were bullish, adding fire to the continuing trend, and the price followed suit.

The gross margin is 21.49%, while the operating and profit margins are 13.46% and 12.97%, respectively. Operating cash flow was $13.96 billion in the previous year, while capital expenditures were -$7.79 billion, for a free cash flow of $6.16 billion.

The company’s current ratio is 1.59, and its debt-to-equity ratio is 0.05 And The company’s current ratio is 1.59, and its debt-to-equity ratio is 0.05. The EV/EBITDA ratio of the stock is 42.40, and the EV/FCF ratio is 121.44.

 Tesla made $94.03 billion in revenue and $12.20 billion in earnings in the previous year. The earnings per share were $3.53. The most recent short interest is 78.21 million, representing 2.47% of the outstanding shares.

What are the Indicator’s Suggestions?

 

The stock has a 56% buy opinion rating from technical indicators, with a decreasing short-term prognosis on sustaining the present trend. Long-term indications are upbeat and completely support the current trend’s continuation.

Analysts’ short-term forecast shows that if the price can keep itself above the demand zone, a slightly optimistic attitude in the market can be observed. If the price fails to attract purchasing volume at the demand zone, it may continue to book short-term profits.

On the Daily Chart:

  • The Moving average convergence Divergence (MACD) indicator for Tesla (TSLA) is -3.99, indicating that Tesla is a Buy.
  • Tesla’s (TSLA) 20-day exponential moving average is 256.61, and the stock price is $242.65, indicating a Sell.
  • Tesla’s (TSLA) 50-day exponential moving average is 248.99, while the stock price is $242.65, indicating a Sell.

 

On the Weekly Chart:

  • The Moving average convergence Divergence (MACD) indicator for Tesla (TSLA) is 18.75, indicating that Tesla is a sell.
  • The 20-day exponential moving average for Tesla (TSLA) is 231.83, and the share price is $242.65, making it a Buy.
  • The 50-day exponential moving average for Tesla (TSLA) is 222.96, and the share price is $242.65, making it a Buy.

What are the Indicator's Suggestions

Indicators: 

  • The Relative Strength Index (RSI) for Tesla (TSLA) is 55.12, indicating a Neutral signal.
  • The Trend Strength Indicator (ADX) for Tesla (TSLA) is 23.60, indicating a Neutral signal.
  • The Commodity Channel Index (CCI) for Tesla (TSLA) is 41.94, indicating a Neutral signal.
  • The Price Rate of Change (ROC) for Tesla (TSLA) is 51.08, indicating a Buy signal.

The Future Understanding of Tesla

Our current TSLA stock projection predicts that the value of Tesla shares will climb by 5.08% to $254.89 per share by August 19, 2023. Our technical indicators indicate that the current attitude is Neutral, with the Fear and Greed Index reading 39 (Fear). Over the previous 30 days, TSLA stock had 14/30 (47%) green days and 4.99% price volatility. According to our Tesla stock projection, this is an excellent opportunity to buy TSLA stock because it is now trading 4.83% below our forecast. The Tesla stock projection for 2025 is now $518.90, assuming that Tesla shares continue to rise at the same average annual pace as they have in the last ten years. The TSLA stock price would rise by 113.91% as a result.

If Tesla maintains its current 10-year average growth rate, its shares will be worth $3,472.67 in 2030. If this Tesla stock forecast for 2030 comes true, the stock will increase by 1,331.55% from its present price.

Conclusion

The stock’s short-term rise led to profit booking following the release of the quarterly results, and the price fell roughly 15% in the last three weeks to finish around the prior support zone in the last trading session.

Technical levels

  • Resistance levels: $300
  • Support levels: $216 and $222

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

 

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