TESLA Stock - Crucial Levels Coming Up!

Summary

In this Tesla update, the host reviews the recent market and Tesla stock performance, highlighting key technical levels and potential short-term movements. Tesla closed around $329, showing minor weakness but maintaining a bullish structure with higher highs and higher lows. Key support is noted around 320–323, with major caution below 314. The broader tech market (QQQ) is bouncing off the 50 EMA, with resistance near 575 and support around 560. Weekly indicators remain bullish if Tesla holds above 333. Overall, the video emphasizes a cautiously optimistic outlook, outlining potential retracements while maintaining a bullish perspective unless critical support breaks.

Takeaways

• 📉 Tesla closed around $329 per share, down roughly 1.4%, slightly in line with the broader market.
• 📈 QQQ (tech index) bounced off the 50 EMA (~560) with resistance near 575; key levels will determine short-term direction.
• ⚠️ If QQQ falls below 560, a retest of previous highs (~538-540) is likely, but it could still be healthy for the market long-term.
• 🔹 Tesla has been volatile around the low 330s (~333), flipping between support and resistance multiple times.
• 📊 Daily chart shows Tesla is making higher highs and higher lows, indicating a bullish structure; current movement is seen as a higher low.
• 📉 If Tesla remains below 333, a small additional drop (~2-3%) toward the low 320s (green Fibonacci) is possible.
• 🚨 Major red flag for Tesla occurs if it drops below 314, which would invalidate the bullish thesis.
• 📈 As long as Tesla stays above ~320, the retracement is still considered bullish, similar to previous patterns.
• 🕒 Weekly indicators remain bullish (green MACD, bullish SMI), but a close below 333 this week could introduce conflicting signals.
• ⚡ Options flow showed mixed activity but ended slightly bullish toward the end of the day.
• 🔑 Key takeaway: Tesla is in a bullish retracement, with daily support around 320–333 and major caution below 314; weekly confirmation is crucial.
• ⏳ Likely short-term movement for Tesla is chopping between 323–333, with potential for a faster bullish move if it breaks above 333.

Q & A

What is the main topic of the video?

The video primarily discusses Tesla stock updates, technical analysis, and broader market trends at the start of September.

Is the information in the video considered financial advice?

No, the creator clearly states that the content is not financial advice and they are not a financial adviser.

What was Tesla's closing price in the video update?

Tesla closed around $329 per share, down approximately 1.4% for the day.

Which technical indicator does the host use to analyze QQQ?

The host uses the 50-day exponential moving average (50 EMA) and identifies support around the 560 level for QQQ.

What does the host identify as Tesla's key resistance level?

The key resistance level for Tesla is the low 330s, specifically around $333, which aligns with the 21 EMA.

What are the critical support levels for Tesla mentioned in the video?

Critical support levels are the green Fibonacci retracement zone around the low 320s and the major red flag level at $314.

How does the host describe Tesla's current chart structure?

Tesla's chart shows a bullish structure with higher highs and higher lows, suggesting a bullish retracement as long as key support levels hold.

What potential downside does the host predict for Tesla if it stays below $333?

If Tesla remains below $333, it could experience a minor retracement of about 2–3% toward the green Fibonacci support zone in the low 320s.

What weekly chart indicators are mentioned, and what do they signify?

The weekly chart shows a green MACD and a bullish SMI, indicating overall bullish momentum, though a recent shooting star candle suggests some caution.

What conditions would trigger a bearish scenario for Tesla according to the host?

A bearish scenario would be triggered if Tesla closes below $314 on the daily chart, losing the pivot low, or if the weekly chart closes below $333, creating conflicting signals.

How does options flow factor into the analysis?

Options flow was mixed throughout the day, but more bullish activity occurred in the last hour, which the host views as a positive short-term sign.

What general market pattern is discussed for QQQ?

The host mentions a potential head-and-shoulders pattern forming for QQQ and outlines possible scenarios for bounces and retests depending on key levels.