Downgrade Alert for Tesla Motors Inc (TSLA)
Tesla Motors Inc (NASDAQ:TSLA) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $201.79 on volume of 6.1 million shares, below average daily volume of 6.1 million.
Tesla Motors, Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. The Company owns its sales and service network and sells electric powertrain components to other automobile manufacturers.
There is potential upside of 45.7% for shares of Tesla Motors Inc based on a current price of $201.79 and an average consensus analyst price target of $294.07. The stock should find initial resistance at its 200-day moving average (MA) of $225.70 and further resistance at its 50-day MA of $230.07.
Over the past year, Tesla Motors Inc has traded in a range of $141.05 to $286.65 and closed yesterday at $201.79, 43% above that low. The 200-day and 50-day moving averages have moved 0.4% lower and 1.84% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Tesla Motors Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tesla Motors Inc in search of a potential trend change.
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