Tesla Stock Price Prediction for the next few days

Tesla Stock Price Prediction for the next few days
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Tesla Stock Price Prediction : On the 22nd of June, analysts predict an average support price of $ 596.3 and an average resistance price of $ 631

On the 21st of June, TESLA Inc. (NASDAQ: TSLA) share price closed 0.4% lower at $ 620.83.

Tesla Stock Price Prediction: Will Tesla go up in the next few days?

The technical analysis by analysts is neutral for the coming days. 

Tesla Inc. Performance Chart

(21st June’21) vs 18th June’21) last 5 days last 1 month Previous Year
Tesla Inc. $ 620.83 (-0.4%) +0.69% +2.37% +212.19%

Tesla Share Price Prediction and Forecast: Support and Resistance, 22nd of June 2021

Source Support Resistance
Investing $ 597.4 (S3) $ 630.5 (R1)
Sharecast $ 604.6 (S2) $ 630.5 (R1)
Barcast $ 586.8 (S3) $ 631.9 (R1)

Investors.com: Tesla one of 8 stocks that will rally

Investorplace: Tesla is a buy before Q2 report

Insidermonkey: Buy Tesla

InvestingCube: Timid Bullish Signs

FX Street: Tesla Charges towards $ 635

ForexTV: Buy Tesla

Canaccord Genuity slashes Tesla price target, citing potential delays in battery program

Motley Fool: 3 Reasons Tesla Stock Could Still Crush the Market

Freedom Finance maintains a strong buy on Tesla

Market Screener maintains a hold on Tesla with a 12 month target of $ 663

Tesla Share Price Prediction and Forecast: 12 months forecast

Source 12 month Tesla Stock Forecast (Median)
CNN Money $ 725
Tip Ranks $ 621 (Mean)
NASDAQ $ 621 (Mean)
WallstreetZen $ 637.85 (Mean)
Marketwatch $ 701.4

Tesla Stock Price Prediction: Latest News Updates

Tech Story: Tesla Taps New Sustainable Glass Supplier, AGP

TeslaRati: Tesla Model S Plaid brakes mid-race to avoid getting kicked off drag strip, still dominates

Rumour on Inside EV: Elon Musk Pushes Tesla’s Q2 Production And Deliveries

TSLA Stock Price: $900 Target From Morgan Stanley

Torque News: Tesla growth story is just getting started

Newsweek: Tesla most popular car on YouTube

TheStreet.com: Tesla Is Said to Be Subject of 30 Regulatory Inquiries Regarding Crashes

Reuters: Ex-Tesla president sold stocks worth $274 million since June 10 -SEC filing

Examiner: After losing out on Tesla, Stitt helps land another auto manufacturer

South China Morning Post: Tesla rival Xpeng gets self-driving parking assist, but it needs to be trained for specific parking spots

Tesla Stock Price Prediction for the next few days

Tesla Stock Price Prediction: Quarterly VEHICLE REGISTRATION DATA

185,000 Teslas were registered in Q1 of 2021 up from 88,400 in Q1, 2020 (COVID lockdown impact). It was 63,000 in Q1, 2019.

New Vehicle Registrations (Global) Growth % (YoY)
Q1 2021 185,000 193.7%
Q1 2020 88,400 40.3%

California saw a drop in Tesla registrations

Tesla Inc. maintains a steady hold on the EV market in China, with new vehicle registrations recovering from a fall in April 2021. Sales of Tesla SUVs more than doubled in China

bloomberg.com

Monthly Registrations (China) Growth % (MoM)
May 2021 33,463 +29%
April 2021 25,845 -25%
March 2021 34,635 +89%
February 2021 18,318 +9%

Tesla Stock Prediction and Forecast: FINANCIAL PERFORMANCE

Free cash flow

Tesla’s earning estimates for Q2, 2021, click here

An important determinant of financial stability for a company, Tesla’s free cash flow jumped to $ 493 million in Q1, 2021, a jump from $ 283 million in Q1, 2020

Tesla clocked $ 10.39 B in Q1 revenue versus $ 5.99 B in Q1, 2020. This resulted in a massive 2638% jump in Net Income growth

Statista

Net Income Growth % (YoY)
Q1 (2021) $ 438 million 2638%
Q1 (2020) $16 million NA

Tesla Stock Price Prediction: Government incentives 

While the EV market is laden with incentives from executive authorities, every new administration brings new incentives for hybrid and plug-in electric vehicles. The Biden administration proposed allocation of $174 billion for the development of the country’s electric-vehicle ecosystem. This, combined with the federal tax credits given under the Energy Improvement and Extension Act, reassures the market of brighter and more profitable days ahead. 

Tesla Stock Price Prediction : Competition performance

It is no surprise that the EV market doesn’t work on a monopoly. Tesla faces serious competition from companies like Ford, Volkswagen, BMW, Kia and Hyundai, all of whom are looking to enter the electric vehicle arena. 

Last month, Volvo confirmed EVs will account for 100% of its vehicle sales by 2030. Auto giant General Motors estimates to increase its all-EV fleet to 30 models by the end of 2023. It plans to offer only light vehicle EVs by 2035 while Ford now expects to sell only EVs in Europe by the end of this decade. In addition, Volkswagen announced plans to develop six battery factories in Europe. 

Manufacturing.net

Tesla Stock Price Prediction and Forecast : Diversification policies 

Tesla has announced plans for diversification into countries like India, that may prove to be an immense market for the automaker. The company has been in talks with the Indian administration and is expected to begin operations in the country by the later half of 2021. 

The company also expects to expand the reach of its ever-so-famous Gigafactory for battery and vehicle production. With well-established Gigafactories in Nevada, New York and Shanghai, the expansion will lead to similar factories being developed in Berlin and Austin. 

Tesla Stock Price Prediction and Forecast : Battery Production 

At the moment, Tesla partners with Panasonic for the production of its vehicle batteries. The Gigafactory in Nevada produces Lithium-ion batteries, with the 2020 target of 35 gigawatt-hours per year of cells as well as 50 gigawatt-hours per year (5.7 MW) of battery packs. This production could be equivalent to supplying 500,000 Tesla cars per year

In home-powered solar batteries, Tesla competes with LG, Orison, Sonnen, SimpliPhi Power, and Sunverge. In electric grid energy, the contenders include Strata Solar, AES, and NextEra. 

Author: Tripti Neb

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