The Tesla Inc. price chart shows that the stock began its 2023 venture with a bullish rally thrusting the price upwards from the low of $102.08. The upward moment gave investors a return of about 110% in less than a month.
However, the bears entered and pushed the price down by roughly 30% to $161.89 within three months. After hitting a low of $161.89, it rebounded and reached $279.82 by July 5th, roughly 70% upwards. Henceforth, in the upcoming weeks, the stock price is expected to surge.
The average volume is 162.511 Million and the current volume is 119.609 Million. As observed from the volume graph, the current volume is below the average volume line. However, the present buying volume is increasing in the stock and the price is constantly moving upwards.
This month, the stock performed well as it was up by 33.15%. Also, the TSLA price was up by 156.46% in the last six months. Moreover, Tesla Inc. (NASDAQ: TSLA) stock’s year-to-date return is positive with an increase of 136.19%.
The market capitalization of TSLA stock is $886.89 Billion and the total revenue is $81.46 Billion. Moreover, the stock’s basic EPS is $3.74 and the price-to-earnings ratio is 77.02.
The Tesla, Inc. stock highlights that the Auto industry has observed an annual growth of 22.2% in earnings, but Tesla’s earnings have grown much faster at 79.4% per year on average. Its annual revenue growth rate is also impressive at 35.4%. Tesla has a high return on equity of 24.1% and a net margin of 13.7%.
Tesla’s shareholder equity is $49.2 Billion and its debt is $ 1.8 Billion, giving it a debt-to-equity ratio of 3.6%. Its total assets are $ 86.8 Billion and its total liabilities are $37.6 Billion. Tesla has an EBIT of $12.8 Billion. It also has a large amount of cash and short-term investments of $22.4 Billion.
Tesla Inc., Technical Analysis in 1-D Timeframe
As per the long term price action, Tesla Inc. price is taking support on the trendline and giving an upward rally. In the last couple of days, the Tesla share price retook the support on the trendline as it seems the support might be strong as both trendline and the support zone are supporting the price. Hence, the TSLA stock may thrust upward in the coming days.
At the time of publishing, the Tesla Inc. price (NASDAQ: TSLA) price is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which is supporting the share price trend. The stock is expected to move higher in the short term.
The MACD line at 16.50 and signal line at 17.27, above the zero line. The line is in bullish territory but narrowed down and is waiting for a crossover. Moreover, the Bollinger band oscillator indicates that the Tesla Inc. price is trading at the upper band. Also, the price took support from the 20 SMA line and went upward.
The Tesla Inc., price indicates that the sentiments and perspectives of investors and traders regarding the TSLA stock are bullish on the 1D time frame. The technical parameters of Tesla share suggest the upward trend will continue. The TSLA share price reflects an optimistic view at the moment. Major indicators – MACD, RSI, and EMA, are giving positive signals for the TSLA stock.
Technical Levels:
- The nearest support: $240 and $207.
- The nearest resistance: $307 and $356
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/05/tesla-inc-price-prediction-will-tsla-resume-its-upward-rally/