Tesla Inc. (NASDAQ:TSLA) shares have seen a rally lately, rising 22. 74% over the past five trading days and 45. 49% in the previous month.
Despite being up just 1. 22% year-to-date, inventory is still down 10. 96% in the past year. The recent rally has put Tesla in the spotlight, leading investors to wonder if there is more room for inventory.
The three most recent ratings from analysts at TD Cowen, Truist Securities, and Guggenheim, all released on July 3, stand in stark contrast to the stock’s performance. With an average price target of $158. 67, these analysts see a 36. 41% challenge potential for Tesla.
This cautious stance, however, deterred bullish sentiment driven by technical indicators.
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Tesla’s current value of $248. 64 puts it above several key moving averages:
These bullish signals imply acquisitive pressure and a possible continuation of the uptrend.
Graphic created with Benzinga Pro
The Bollinger Bands study further confirms the uptrend with the 25-day bands: $144. 60 – $241. 62, indicating an uptrend. These bands suggest that Tesla is trading well above its usual range, reinforcing the idea that the stock is under heavy buying. pressure.
The widening gap between the upper and lower bands of Tesla stock means that the stock is reporting larger price swings, due to some similar or stock-affecting economic and stock market news.
While analysts have a cautious outlook, technical signals from Tesla paint a different picture, suggesting that the stock’s bullish momentum would possibly have more wiggle room. For investors interested in Tesla, the technical research makes a compelling argument for an uptrend, even against the projections of skeptical analysts.
Price action: At last verification, Tesla was trading at $251. 17 in line with the stock, down 0. 14%.
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