The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Tesla Inc shares valued at $1,850,100 were sold by Baglino Andrew D on Apr 01 ’24. At $176.20 per share, Baglino Andrew D sold 10,500 shares. The insider’s holdings dropped to 31,230 shares worth approximately $5.06 million following the completion of this transaction.
Also, DENHOLM ROBYN M sold 93,705 shares, netting a total of over 16,439,650 in proceeds. Following the sale of shares at $175.44 each, the insider now holds 15,000 shares.
Before that, Zhu Xiaotong had sold 687 shares from its account. In a trade valued at $121,716, the SVP, Automotive traded Tesla Inc shares for $177.11 each. Upon closing the transaction, the insider’s holdings decreased to 687 shares, worth approximately $10.24 million.
As published in a research note from BofA Securities on April 24, 2024, Tesla Inc [TSLA] has been rated up from a Neutral to a Buy and the price target has been revised to $220. Analysts at RBC Capital Mkts resumed the stock at ‘”an Outperform”‘ outlook in a report released in late April. As of April 18, 2024, Deutsche Bank has decreased its “Buy” rating to a “Hold” for TSLA. Earlier on April 17, 2024, Barclays resumed its rating. Their recommendation was “an Equal weight” for TSLA stock.
Analyzing TSLA Stock Performance
During the last five days, there has been a surge of approximately 4.30%. Over the course of the year, Tesla Inc shares have dropped approximately -34.75%. Shares of the company reached a 52-week high of $251.25 on 01/02/24 and a 52-week low of $138.80 on 04/22/24. A 50-day SMA is recorded $176.21, while a 200-day SMA reached $223.12. Nevertheless, trading volume fell to 180.32 million shares from 124.55 million shares the previous day.
Support And Resistance Levels for Tesla Inc (TSLA)
According to the 24-hour chart, there is a support level at 157.10, which, if violated, would cause prices to drop to 152.08. In the upper region, resistance lies at 167.56. The next price resistance is at 173.00. RSI (Relative Strength Index) is 47.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.24, which suggests the price will decrease in the coming days. Percent R is at 42.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
