Tesla Stock Forecast: TSLA Over $1140, Will It BREACH $1200 This Week?

Tesla Stock Forecast: TSLA Over $1140, Will It BREACH $1200 This Week?
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Tesla Stock Forecast : In the next 24 hours, analysts predict an average support price of $ 1084 and an average resistance of $ 1170. Overall recommendation for next 24 hours is Buy

3 out of 3 Momentum Indicators are Positive

3 Analysts

Tesla Stock Forecast: Latest Price

TESLA was trading 0.68% higher at $ 1144.76 in the current trading session

Metric
Value
Trend
Share Volume
27.09 M
Higher
Average Share Volume
26.53 M
Higher
Forward PE (1 Year)
270.07
NA
image 8

Tesla Stock Forecast: Momentum Summary

Metric
Momentum
Price
Higher
Technical Indicator
Buy
Social Media Buzz Momentum
Positive

Tesla Stock Forecast: Performance Chart

1 day
last 5 days
last 1 month
last 1 year
5.09%
-2.22%
-5.92%
+100.32%

Tesla Stock Forecast: Support and Resistance

Source
Support
Resistance
Recommendation
$ 1089 (S3)
$ 1178 (R1)
Buy
$ 1094 (S3)
$ 1163 (R1)
Buy
$ 1069 (S3)
$ 1169 (R1)
Buy

Tesla Stock – HOLDING STRONG!

Tesla Stock Forecast: Tesla Latest News and Crowd’s Tweets

Originally tweeted by Meta Memes 🚀 of Mars 🌕 (@MemesOfMars) on December 1, 2021.

$TSLA daily #StockMarket check

Weekly chart: @Tesla in reversal from overbought zone with potential to revisit the #basetrend (blue). #Stock price is caught in consolidation zone (red triangle). A good Q4 = momentum push for a break-out. Today retest $1200.

Read about LUCID Stock Forecast

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Read about RIVIAN Stock Forecast

Tesla Stock Forecast: TSLA Social Media Sentiuments

Social Media Sentiment Period
Positive Sentiment
Negative Sentiment
Sentiment Trend
Last 7 days
10.9%
12.5%
Higher
Last 24 hours
10.4%
11.4%
Higher

Tesla Stock Forecast: Crowd’s Videos In last 24 Hours

TSLA Stock Analysis – Tesla Stock Price Prediction for Tomorrow December 1st

TSLA Tesla Stock Forecast: 12 months forecast (Upper Range)

Source
12 month Tesla Stock Forecast
$ 1591 (Upper Range)
$ 1300 (Upper Range)
$ 1300 (Upper Range)

Tesla Stock Forecast: Detailed Technical Analysis

1. Finding Support and Resistance using Fibonacci Pivot Points

image 474

The chart pivot point is at $997 and stock is expected to face first resistance around $1130 and then the next resistance point is at @1214. One can see clearly how well second resistance level is respected as stock after trying to touch level of $1214 in November first week, fell up to the pivot point level of $997. The stock is currently hovering around first resistance level of $1132 and a major bullish or bearish candle will take it either towards R2 or towards Pivot Point level. In case stock fell below pivot point, the major support lies at $864 and then $781.These levels are for the month of November.

Support and Resistance is indicated below by various indicators.

Name
S3
S2
S1
Pivot
R1
R2
R3
Classic
528.37
645
879
997
1231
1349
1583
Fibonacci
645
780
863
997
1131
1214
1349
Woodie’s
586
675
938
1026
1289
1378
1641

2. Identifying trend Using Moving Averages and Supertrend Indicators

image 475

The figure shows two numbers of exponential moving indicators 14 days and 22 days. 14 days EMA lies at $1096 and 22 days EMA lies at $1071.As the closing share price on 24th  is above both 14 days and 22 days EMA, it is definitely a buy signal from moving averages perspective. Moreover, as 14 days EMA is significantly above 22 days EMA, it confirms the uptrend for the stock. But Supertrend indicator (10,3) indicates downtrend recently and $1185 is likely to act as resistance for the stock in the near term. Other period Moving averages is indicated below with respective buy and sell signal.

Period
SMA
Signal
EMA
Signal
MA5
1122.97
Sell
1110.84
Buy
MA10
1086
Buy
1112.84
Buy
MA20
1118.04
Sell
1073.24
Buy
MA50
940.14
Buy
973.22
Buy
MA100
817.89
Buy
873.61
Buy
MA200
741.22
Buy
755.83
Buy

3. Bullishness Strength by RSI and MACD Indicator

image 476

The MACD indicator (lagging indicator) has shown a slight bearish trend as MACD line has crossed signal line but the length of bars is reducing signaling towards a reversal soon. RSI is at 57.97 indicating sufficient strength. Neither stock is oversold nor it is overbought.

The various technical indicators are signaling a consolidation zone in near term, with $1214 as ultimate resistance and $860 as support. The stock has run up so fast in near past and is cooling off before beginning the upward journey again.

Tesla Inc Reports Record Profit in Q3

  • Tesla reported Q3 results and reported revenue stands at $13.76 billion vs $13.63 billion expected by Refinitiv. Earnings per share stands at $1.86 vs $1.59 expected by Refinitiv.
  • The company reported $1.62 billion net income for the quarter, and it is second time it has gone past $1 billion in the net income. Net income was only $331 million in the same quarter last year.
  • The gross margin significantly improved to 30.5 percent on its automotive business and 26.6% overall and both of them are record when compared to last five quarters.
  • Tesla also generated $806 million in revenue from energy business, combination of solar and energy products and $894 million in services and other revenue, which include vehicle maintenance and repairs.
  • The company is expected to face various issues including semiconductor shortages, congestion at ports and rolling blackouts, but company is expected to achieve 50 percent average annual growth in vehicle deliveries over a multiyear horizon.
  • Tesla remained non-committal on the start date of its much anticipated Cybertruck. As per company sources, only production of non-traditional truck will begin at some point after Model Y production.

Elon Musk Offloads Tesla Shares

Tesla CEO Elon Musk has sold about $1.05 billion in stock on Tuesday and a total of $9.85 billion in past two weeks. He still has more than 169 million shares in the company. Tesla shares fell more than 15 percent the week ended Nov 12 and it is worst week for Tesla in last 20 months. Recently Musk on November 6 asked his 60 million twitter followers whether he should sell 10 percent of his Tesla stock, and poll although not unanimously told Musk to sell shares. 

Future Outlook for Tesla Inc in 2022.

As per technical analysis, Tesla Inc has run steadily over the past year and is cooling off recently. Although, the bullish strength is diminishing with MACD bearish crossover and RSI also below 60, but a major correction or crash is not expected. The company’s financials are very strong with record revenue and net income but company is expected to face issues like critical federal vehicle safety regulations. The National Highway Traffic and Safety Administration is investing Tesla for safety defects in Autopilot driver assistance system after a string of crashes involving Tesla drivers.  

Also chip shortage issue is yet to be resolved but it is transitory in nature. Also launch of its much awaited model Cybertruck is delayed and investors are not happy with the news. But stock is yet to see a major correction in its history and any correction up to $1000 will make it a more attractive investment.

Tesla Stock Prediction and Latest Stock News: TSLA Trades Over $1000 Mark

Tesla Stock Forecast: 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 Forecast: 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. 

A few months ago, 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 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 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. 

Where Tesla Stands With Analysts

Yahoo Tesla Community

Investing.com Tesla Community

Tipranks Tesla Blogger Opinions & Sentiment

Tesla Motors Club Forum

Track Tesla on Yahoo here

Nasdaq.com-Top Analyst Reports for Tesla

Read Apple Stock Forecast here

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