Watch For These CRUCIAL Levels? - TSLA Stock, SPY, QQQ Update

Summary

In this Tesla update, the presenter breaks down both short-term and long-term stock movements, highlighting key support at $345 and potential upside targets around $365–$380. Tesla remains in a bullish rising triangle pattern, with critical long-term support near $325. The analysis covers daily, hourly, and 4-hour chart patterns, including potential head and shoulders setups, Fibonacci retracements, and exponential moving averages. Broader market context is also explored, noting bearish divergences in NASDAQ and SPY, upcoming economic catalysts, and mixed options flow on Tesla. The video offers actionable insights while maintaining a cautious bullish outlook, emphasizing key levels to watch for potential breakouts or pullbacks.

Takeaways

• 📈 Tesla stock is mostly flat today, up only 0.17%, trading around $347 per share.
• 🔹 Short-term support for Tesla is around $345; closing below this may trigger a pullback to $338 or low $330s.
• 🚀 Upside targets include ~$365 for the first breakout and ~$380 for the second, with long-term potential toward $400+ if a bullish breakout occurs.
• 📊 Tesla is currently in a rising triangle pattern, which is technically bullish, though short-term momentum could stall.
• 📉 Losing the key trendline around $325 would invalidate the bullish pattern and could lead to lower lows and EMA breakdowns.
• 🧮 Fibonacci levels show support at 38.2% currently; a deeper retracement could reach 61.8% (~$338).
• ⏱️ Short-term charts show a potential head-and-shoulders pattern forming; breaking above low-mid $350s would nullify it and signal bullish continuation.
• 💹 Broader market indices (Q’s and SPY) are still under bullish control but show bearish divergences that could lead to sideways movement or mild corrections.
• 📅 Key upcoming market events include PPI, CPI data this week, and a potential rate cut next week, which could create volatility.
• 💼 Tesla options flow is mixed, with both bullish and bearish activity, indicating market participants are uncertain about the next move.
• 📝 Overall, Tesla remains neutral to slightly bullish short-term, bullish long-term, with critical levels at $345 (support) and low-mid $350s (resistance/breakout).
• ⚠️ Monitoring key levels and patterns is essential for both Tesla and the broader market to anticipate potential moves and avoid surprises.

Q & A

What is the current price of Tesla stock discussed in the video?

Tesla is trading at $347 per share, showing a modest increase of 0.17%, essentially a flat day.

What short-term level should traders watch for Tesla, and why?

Traders should watch the $345 level. A daily close below this could stall short-term bullish momentum and potentially lead to a decline into the low $330s.

What is the significance of the $350s area for Tesla?

The low-to-mid $350s area acts as a resistance level. If Tesla flips this area into support and maintains it, it increases the probability of a bullish breakout.

What short-term bullish targets were mentioned for Tesla?

Short-term bullish targets are around $365 for the first level and $380 for the second level.

What long-term pattern is Tesla currently in, and what does it indicate?

Tesla is in a rising triangle pattern, which is technically bullish. While it doesn't guarantee a bullish outcome, the pattern has a higher probability of continuing upward as long as trendline support is maintained.

At what level would Tesla's bullish bias be considered broken?

The bullish bias would be considered broken if Tesla falls below $325, which would break the rising triangle pattern, create a lower low, and risk losing exponential moving averages.

What key levels are important for the broader market according to the video?

For Nasdaq Q’s: 575 support and 560 lower support; for SPY: 645 support. Breaching these levels could trigger a market correction.

What potential market catalysts are highlighted in the video?

Upcoming catalysts include PPI and CPI releases this week, as well as a potential rate cut of 25–50 basis points next week, which could significantly influence market movements.

What does the options flow indicate for Tesla?

The options flow is mixed, showing both bullish and bearish positions for Tesla this week and next. Bulls are slightly ahead, but overall sentiment reflects uncertainty in the market.

How does the video presenter suggest handling Tesla and market analysis?

The presenter suggests monitoring key support and resistance levels, watching for patterns like the rising triangle and head-and-shoulders, and being aware of both bullish and bearish possibilities. Patience and careful observation are emphasized before making trading decisions.

What is the significance of bearish divergences in the broader market?

Bearish divergences, where indicators like RSI, MACD, or SMI point down while prices rise, may signal potential buyer exhaustion and possible corrections. However, these divergences could also result in sideways price action rather than immediate declines.

What does flipping a resistance level into support mean for Tesla?

Flipping a resistance level, such as the low-to-mid $350s, into support means that the stock can hold above this area, reducing the likelihood of short-term declines and increasing the probability of a bullish breakout.