What are the predictions for TSLA in the next 4 weeks?
7/10/2024 04:12am
The predictions for Tesla (TSLA) in the next 4 weeks are mixed, with some analysts and indicators suggesting a potential for growth, while others indicate potential downside risks.
1. **Short-Term Price Movement**: The average price target for TSLA over the next week is $181.50, with a high of $202.09 and a low of $168.73. This suggests that analysts expect some volatility but generally an upward movement in the short term.
2. **Technical Indicators**: The Fear & Greed Index is showing 39 (Fear), which suggests that investors are cautious but not overly pessimistic about the stock. The stock has recorded 13/30 (43%) green days with 7.04% price volatility over the last 30 days, indicating a recent trend of positive performance.
3. **Analyst Ratings**: The consensus rating for TSLA is "Hold," with 35 analysts giving a "Buy" rating and 27 analysts giving a "Sell" rating. This suggests that while there is some caution, the overall sentiment is not overly bearish.
4. **Upcoming Events**: Tesla's Q2 earnings report is set for July 23, 2024, which could significantly impact the stock's performance. The company's earnings report is expected to show an EPS of $0.62, indicating a 31.87% decline compared to the equivalent quarter last year. Revenue is forecast to be $24.9 billion, down 0.12% from the year-ago period.
5. **Market Sentiment**: The stock has been on a tear lately, with early signs pointing to potentially strong results from its Q2 earnings call. However, the recent layoffs and the overall market conditions could introduce additional risks.
In conclusion, while there are some positive indicators and analyst ratings, the mixed technical indicators and the upcoming earnings report suggest that TSLA's stock price in the next 4 weeks could be volatile but may have an upward bias. Investors should closely monitor the company's financial performance, market conditions, and any new developments that could impact its stock price.