TSLA stock price prediction as Tesla recalls 1.6 million vehicles

Group 1: Recall and Software Issue - Tesla is recalling over 1.68 million electric vehicles in China due to a software issue that could increase the risk of collisions [1] - The recall affects various models, including Model S, Model X, Model 3, and Model Y, and started on August 6 [1] - The software failure may prevent detection of an unlocked bonnet, potentially obstructing the driver's view and leading to collisions [1] - The issue can be resolved through an over-the-air software update, similar to a previous recall in the U.S. affecting 1.85 million cars [1] Group 2: Stock Performance - As of August 6, TSLA stock was trading at $200.64 per share, with a minor gain of 0.88% in the latest session, countering a 12% loss over the past five trading days [2] - Pre-market data shows a loss of 2.77%, lowering the stock price to $195.08 [2] Group 3: Technical Analysis - Technical analysis indicates signs of weakness in Tesla's stock, with a recent decline within a downward trend channel [4] - The stock reached a target of $258 but has since pulled back to a critical support level at $200, with resistance at $205 [4] - A bounce from the $200 level could trigger a positive reaction, while a break below this level would signal bearish trends [4] - The Relative Strength Index (RSI) recorded a reading of 40, suggesting a slight downtrend [4] Group 4: Wall Street Sentiment - Wall Street is divided on TSLA stock, reflected in an overall "hold" rating based on 30 opinions, with 11 recommending "buy," 12 "hold," and 7 "sell" [6] - The average price target for TSLA is set at $213.92, indicating limited growth potential at just 6.62% above the latest closing price [6] - Recent recalls are likely to negatively impact TSLA stock and contribute to divided opinions on Wall Street [8]