Weekly TSLA prediction
9/2/2024 08:46am
Tesla's stock is predicted to reach $223.85 by the end of the week, with a 0.618 Fibonacci Retracement indicating a potential upward trend.
1. **Fibonacci Retracement**: The 0.618 Fibonacci Retracement over the past year is $223.85, suggesting a potential target price for Tesla.
2. **Analyst Ratings and Price Targets**: The average analyst price target for Tesla is $230, with estimates ranging from $115 to $350. This suggests a mixed outlook from analysts.
3. **Historical Performance**: Tesla's stock has shown a volatile trend, with a 52-week high of $375.51 and a 52-week low of $60.64.
4. **Technical Indicators**: The stock's 5-Day Moving Average is $209.71, and the 10-Day Moving Average is $214.66, indicating a bullish trend. The 50-Day Moving Average is $218.69, and the 200-Day Moving Average is $208.47, suggesting a long-term upward trend.
5. **Support and Resistance Levels**: The current support level is $211.84, and the resistance level is $216.4, with a narrow trading range indicating a potential breakout if either level is broken.
6. **Market Sentiment**: The market sentiment is negative, with a very negative investor sentiment and a high level of retail investor activity indicating a bearish sentiment.
Despite the negative investor sentiment and bearish market conditions, the strong bullish technical indicators and the potential for a Fibonacci retracement to drive the stock price upwards suggest a cautious optimism for Tesla's stock in the coming week.