Is it a good time to buy Tesla now
8/16/2024 02:08am
**The decision to buy Tesla stock now should be approached with caution.** Here's why:
1. **Recent Price Movement**: Tesla's stock has experienced a significant recent price increase, with a 7.55% rise over the last three months. This recent uptick could indicate either positive market sentiment or a reaction to previous declines.
|Ticker|Name|Date|Interval Percentage Change|code|market_code|
|---|---|---|---|---|---|
|TSLA.O|Tesla|20230816-20240815|-7.481971153846157|TSLA|185|
|TSLA.O|Tesla|20240216-20240815|7.5230730855575025|TSLA|185|
|TSLA.O|Tesla|20240516-20240815|23.874935341111552|TSLA|185|
2. **Technical Indicators**: The stock's technical indicators show mixed signals. The MACD is negative, which typically suggests a bearish trend. However, the KDJ is at 60.94, which could be interpreted as neither overbought nor oversold. The RSI is at 42.8, indicating that the stock is neither overbought nor underbought.
|Ticker|Name|Date|RSI|KDJ|MACD|code|market_code|
|---|---|---|---|---|---|---|---|
|TSLA.O|Tesla|20240814|42.7993|60.9374||TSLA|185|
|TSLA.O|Tesla|20240815|||-2.7353|TSLA|185|
3. **Moving Averages**: The stock is currently trading above its 5-Day, 10-Day, and 20-Day moving averages but below its 50-Day and 200-Day moving averages. This could imply that the short-term trend is positive but the longer-term trend is mixed.
4. **Support and Resistance Levels**: The current trading price is near the resistance level of $205.36, which could indicate a potential for further upward movement. However, breaking above this level could be necessary for sustained upward momentum.
|Ticker|Name|Date|Resistance Level (Narrow)|Support Level (Narrow)|code|market_code|
|---|---|---|---|---|---|---|
|TSLA.O|Tesla|20240814|205.3611|198.5073|TSLA|185|
5. **Fibonacci Retracement**: The 0.618 Fibonacci Retracement level is at $223.85, which is above the current trading price. This suggests that the stock has room to grow based on this technical indicator.
|Ticker|Name|Date|Fibonacci Retracement (0.618)|code|market_code|
|---|---|---|---|---|---|
|TSLA.O|Tesla|20221230-20231229|223.85264|TSLA|185|
6. **Analyst Ratings and Price Targets**: The consensus rating is "Neutral" with an average price target of $209.21, which is slightly above the current trading price. This suggests that analysts do not see significant upside or downside potential in the near term.
7. **Fundamental Analysis**: Tesla's financials show a net income growth rate of -42.85% and a diluted EPS growth rate of 23.53%. These figures indicate challenges in profitability but also some improvement in earnings per share. The company's free cash flow is negative at -$9.26 billion, which could be a concern for investors.
|Ticker|Name|Date|Total Revenue year-on-year growth rate|Diluted EPS QoQ growth rate|Net Income year-on-year growth rate|code|market_code|
|---|---|---|---|---|---|---|---|
|TSLA.O|Tesla|20240630|2.298712239740041|23.52941176470587|-42.846212700841626|TSLA|185|
8. **Market Sentiment**: There is a bullish sentiment among analysts, with some expecting a 26.29% rise in the stock price over the next three months. However, there are also concerns about the company's growth and financial shortfalls.
In conclusion, while there are some positive indicators such as the RSI and the 0.618 Fibonacci Retracement, the mixed technical signals and the neutral analyst ratings suggest that the decision to buy Tesla stock now should be based on individual risk tolerance and investment strategy, with careful consideration of the potential for short-term volatility and the longer-term growth prospects.