Recently we have seen a lot of flash crashes in Tesla, Inc. (NASDAQ:TSLA) stock; the stock would dive off a cliff and lose three, four, or five-plus percent in a matter of minutes. However, these crashes seem to be over as in the last two days, the stock has had two strong green days.
Below is the technical analysis of the stock and an expert’s opinion on what investors should expect in the coming months.
Tesla stock technical analysis
Source – TradingView
On Tuesday, February 15, 2022, Tesla stock opened at $900 and closed at $922.43. The stock price went up by 5.33% from $875 to $922.43. During the regular trading day, a total of 18.9 million shares were traded for around $17.3 billion. The lowest price is reached on the trading day was $893.38 while the highest price it reached was $923.
The 52-week high on this stock is $1243.49 while the 52-week low is $539.49. On Tuesday, there were 4 million fewer shares that were exchanged compared to the previous trading day.
Tesla stock is considered very steady, with a very low chance of distress. And based on historical data, the stock appears to actively respond to the market. In addition, Tesla stock has a buy signal from its short-term moving average; however, the stock’s long-term moving average maintains a sell signal.
The intermediate trend on the TSLA stock is possibly bullish. The stock has a strong bullish three-day candlestick pattern, with a good three-day accumulation on the stock. There is also a bullish engulfing pattern forming on the 15-minute time frame, which has medium reliability and indicates a bullish reversal.
In addition to that, there is a three inside up pattern emerging on the 30-minute time frame, which has high reliability and indicates a bullish reversal.
So, what next?
Given the current overall short-term trend, a rise in the TSLA stock price is to be expected. The last daily candle as of the last trading day on the Tesla stock is green, which means that the bulls or in other words the buyers, dominated this session.
We expect the bullish sentiments on the stock to continue even on the long-term trend as the company continues to open Gigafactories around the world.
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