TESLA Stock - Can TSLA Still See Higher?

Summary

In this Tesla stock update, the speaker provides a detailed analysis of Tesla’s recent stock performance, forecasting a potential consolidation around the $320 level before earnings. The speaker discusses key chart patterns, such as bull flags, and highlights the importance of certain price levels like $325 and $330. With a slightly bullish outlook leading into earnings, the speaker anticipates a potential upward move to $330, but also notes the risk of a breakout in either direction from the current pennant pattern. Options strategies and technical indicators are also covered, with a focus on market movements and trends.

Takeaways

• 😀 Tesla stock closed down 7.2% today, finishing just above $319 per share.
• 😀 The stock is currently in a smaller downward channel or 'bull flag' pattern on the 1-hour chart.
• 😀 The target for a potential upward move is around $325 to $330, with a likelihood of rejection at these levels.
• 😀 Market makers might push Tesla's stock to close around $320, avoiding a spike in call options near that level.
• 😀 A quiet day is expected tomorrow, with the stock likely consolidating around $320 to $319, with minimal movement.
• 😀 Tesla's chart looks bullish leading into earnings, but the post-earnings outcome is uncertain.
• 😀 The stock could potentially rise to $330 before earnings, but losses are possible if it drops below $313–315.
• 😀 The SMI on the 1-hour chart is cooling off, indicating a potential for consolidation before a possible upward move.
• 😀 The daily chart shows a large pennant formation, signaling that a breakout could occur in either direction (up to $400 or down to $240).
• 😀 The MACD indicator is nearing a bullish crossover, which could signal further upward momentum for Tesla.
• 😀 The stock is holding steady above key support levels (313–315), which is helping maintain a bullish outlook into earnings.

Q & A

What is the main focus of this Tesla stock update video?

The video focuses on analyzing Tesla's stock performance, discussing recent trends, and offering predictions for future movements, particularly leading up to earnings reports.

What are the different membership tiers mentioned in the video?

The video discusses a YouTube membership with three tiers: $3/month for the Tesla tier (offering Tesla options flow, technical analysis, and chart updates), $5/month for the Nvidia tier (which adds Nvidia stock updates), and $7/month for the non-Tesla and non-Nvidia tier (covering other stocks in the market).

What is Tesla's stock performance for the day in the video?

Tesla's stock closed down 7.2% on the day, finishing just above $319 per share.

What is the expected behavior of Tesla’s stock in the near future according to the video?

The video suggests that Tesla’s stock may experience a slow, sideways day with slight fluctuations, potentially ending around $318 to $319 in the near term. A bullish setup is expected going into earnings, though post-earnings reactions are uncertain.

What is the significance of the 325 and 330 price levels mentioned in the video?

The 325 and 330 levels are seen as key resistance levels. The video mentions that a rejection at these levels could lead to a pullback or cooling off of the stock price.

How does the video describe Tesla's current chart pattern?

Tesla's chart is described as forming a descending channel or bull flag, indicating potential consolidation before a possible upward movement, depending on how it behaves around key price levels.

What is the role of the call wall and max pain in the stock analysis?

The call wall around the $320 mark and max pain near $310 are important technical factors. The video suggests that market makers might keep Tesla's stock close to $320 to prevent call options from finishing in the money, leading to a potential sideways movement in the short term.

What does the video say about the potential post-earnings movement of Tesla’s stock?

The video mentions that post-earnings movement is unpredictable, but Tesla could see a limited range of price movement, potentially between $300 and $340, depending on the earnings outcome.

What technical indicators are highlighted as important in the analysis?

The video mentions several technical indicators, including the MACD (which is showing a potential bullish crossover), the SMI (stochastic momentum indicator) showing overbought conditions on the 1-hour chart, and the exponential moving averages (which remained bullish by not crossing bearish).

What is the significance of the pennant pattern discussed in the video?

The pennant pattern is described as a consolidation phase. The video suggests that until Tesla breaks out of this pattern—either upwards or downwards—true movement in the stock price is unlikely. A breakout could lead to significant price movements, with the potential for Tesla to reach $400 on an upside break or fall to $240 if it breaks downwards.