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Insider Selling: DENHOLM ROBYN M, Tesla Inc [TSLA] Director divested 93,705 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tesla Inc shares valued at $17,322,282 were sold by DENHOLM ROBYN M on May 06 ’24. At $184.86 per share, DENHOLM ROBYN M sold 93,705 shares. The insider’s holdings dropped to 15,000 shares worth approximately $2.7 million following the completion of this transaction.

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Also, Baglino Andrew D sold 10,500 shares, netting a total of over 1,850,100 in proceeds. Following the sale of shares at $176.20 each, the insider now holds 31,230 shares.

Before that, DENHOLM ROBYN M had sold 93,705 shares from its account. In a trade valued at $16,439,650, the Director traded Tesla Inc shares for $175.44 each. Upon closing the transaction, the insider’s holdings decreased to 93,705 shares, worth approximately $2.7 million.

As published in their initiating research note from Cantor Fitzgerald on May 02, 2024, Tesla Inc [TSLA] has been an Overweight and the price target has been revised to $230. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late April. As of April 24, 2024, RBC Capital Mkts has reiterated its “an Outperform” rating for TSLA. Earlier on April 18, 2024, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for TSLA stock which previously was a “a Buy”.

Analyzing TSLA Stock Performance

During the last five days, there has been a surge of approximately 3.52%. Over the course of the year, Tesla Inc shares have dropped approximately -27.52%. 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 $171.03, while a 200-day SMA reached $214.04. Nevertheless, trading volume fell to 86.54 million shares from 115.27 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 177.55, which, if violated, would cause prices to drop to 175.00. In the upper region, resistance lies at 183.23. The next price resistance is at 186.36. RSI (Relative Strength Index) is 54.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.67, which suggests the price will increase in the coming days. Percent R is at 37.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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