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- 1 Tesla Inc (NASDAQ: TSLA) stock price decreased by 3.27% over the last 24 hours.
- 2 Tesla Inc (TSLA) stock’s 52-week price range is $101 – $299.
Tesla has been increasing its earnings by an average of 75.6% per year, while the auto industry’s earnings grew by 17.2% per year. Its revenues have been rising by an average of 35.3% annually. This data is based on Simplywall Inc, a website that provides financial information. Tesla’s return on equity is 23.4%, and it has net margins of 13%.
Tesla has a shareholder equity of $52.2 Billion and a debt of $1.5 Billion, which gives it a debt-to-equity ratio of 2.9%. According to Simplywall Inc., its assets and liabilities are $90.6 Billion and $38.4 Billion, respectively. Tesla’s EBIT is $12.7 Billion, which results in an interest coverage ratio of -23. It has $23.1 Billion in cash and short-term investments.
Tesla (TSLA) stock has a market value of $811.622 Billion and total revenue of $81.46 Billion. Its basic EPS is $3.87, and its price-to-earnings ratio is 75.00. The stock price has risen by 5.13% this month and by 57.43% in the last six months, leading to a positive year-to-date return of 115.84%.
Additionally, the average volume of Tesla stock is 1122.107 Million, and the current volume is 103.677 Million. The volume chart shows that the current volume is lower than average, and if buying pressure does not intervene, then it may drop further.
Technical Analysis of TSLA Stock Price in 1-D Timeframe
The price action shows that Tesla Inc (NASDAQ: TSLA) price chart shows that the stock started its 2023 journey with a bullish rally that pushed the price up from the low of $102.08. The upward movement gave investors a reward of about 110% in less than a month.
However, the bears stepped in and pulled the TSLA price down by roughly 30% to $161.89 within three months. After reaching a low of $161.89, it rebounded and reached $299.52 by July 19th, roughly 85% upwards. But it looks like the TSLA price broke the uptrend in the last few days as the price took a 14% pullback from resistance and at the time of writing, it was trading at $255.71.
Since TSLA stock price pulled back from the trendline, it seems like the price is going down in the short term toward the nearest support at $240. Therefore, if the TSLA price is rejected from the CMP level and falls then it may reach the nearest support levels of $240.92 and $207.19.
Alternatively, if the TSLA price holds the CMP level, then the price may go up and reach the targets of $307.56 and $356.10.
The Tesla Inc. price is above the 50 and 100-day EMAs, which support the uptrend. However, the 20 EMA is broken which is showing selling pressure and suggests that if more sellers join in then it might be possible to break the EMAs one after another over the one-day time frame.
Additionally, the MACD line at 5.08 and the signal line at 9.77 are over the zero line, signaling bearishness in the market. Also, the RSI is at 45.74 points and the 14 SMA is above the middle line at 59.86 points, which indicates a downward direction and bearish sentiment in the market of Tesla Inc.
Summary
Tesla Inc (NASDAQ: TSLA) shows that the investors and traders of the stock are bearish on the 1-D time frame. The price action highlights a bearish outlook at the time of publishing. The technical parameters of the TSLA stock price also support the bearish trend. The major indicators MACD, RSI, and EMA are giving negative signals and imply that the downtrend may continue over the Tesla Inc. price
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 pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
