Tesla Stock Analysis | Massive Move | Tesla Stock Price Prediction | SPY & QQQ

Summary

In this video, Junior Trader discusses Tesla stock, emphasizing its bullish momentum above the $23 level and the 200-day moving average. He highlights the inverted Head and Shoulder pattern and the potential for a continued uptrend, targeting $214 and then $225, while cautioning about high short volume near $232. The analysis also covers the S&P 500 (SPY) and the NASDAQ 100 (QQQ), both showing strong bullish patterns with key support levels identified. The video concludes with a bullish outlook for the market, as evidenced by the strength in Tesla's hourly chart.

Takeaways

• 🚀 The video discusses a bullish outlook on Tesla's stock, emphasizing its performance above the $23 level and the 200-day moving average.
• ⚠️ The analysis is for educational purposes only and not financial advice, as stated by Junior Trader.
• 📈 Tesla's stock has surpassed a critical resistance level of $23, which is also the neckline of an inverted Head and Shoulders pattern on a weekly interval.
• 🔢 If Tesla closes the week above $23, it would confirm the bullish pattern and potentially lead to further upward movement.
• 📊 The next resistance level mentioned is $214, which is a previous pivot point, and there is a convergence of the 20 and 50-day moving averages.
• 💼 The speaker suggests that even if Tesla's stock price pulls back to the $210 area, it would still be considered a bullish zone.
• 📉 However, caution is advised as the area around $225 has previously seen high short volume, indicating potential resistance.
• 📈 The overall sentiment for the stock market, including Tesla, is bullish, with specific focus on the S&P 500 (SPY) and QQQ.
• 📊 For SPY, the speaker highlights the importance of staying above the 524 level to avoid a potential bearish head and shoulders pattern.
• 📈 QQQ is also in a bullish structure, with the speaker mentioning a resistance level of 474, although not heavily emphasizing it due to strong bullish candles.
• 📉 The speaker advises to manage positions with a stop loss on the opposite side of the bullish structure and to take partial profits during extensions.

Q & A

What is the main focus of Junior Trader's video?

The main focus of the video is to perform a price action analysis on Tesla stock.

What is the significance of Tesla stock being above the $23 level?

Tesla being above the $23 level indicates a potential upside play and is a positive signal for bullish investors.

What does the 200-day moving average signify in the context of the video?

The 200-day moving average is a technical indicator that, when crossed above, can suggest a long-term upward trend for Tesla's stock.

What is the inverted Head and Shoulder pattern mentioned in the video?

The inverted Head and Shoulder pattern is a bullish reversal chart pattern that signals a potential upward price movement after a downtrend.

What is the importance of closing the week above the $23 level for Tesla's stock?

Closing the week above the $23 level would confirm the neckline of the inverted Head and Shoulder pattern, reinforcing the bullish outlook.

What is the next resistance level mentioned for Tesla after $23?

The next resistance level mentioned is $214, which is a previous pivot point and also where the 20 and 50-day moving averages converge.

What does the video suggest about the short volume percent on Tesla reaching 47?

The video suggests that a 47% short volume percent indicates significant short selling interest, which could impact Tesla's stock price.

What is the hourly interval analysis showing for Tesla's stock in the video?

The hourly interval analysis shows some signs of a slowdown but also indications of the stock attempting to rise again, which is a positive sign for bullish investors.

What is the target price level for Tesla if it continues to stay above $210?

If Tesla continues to stay above $210, the next target price level to watch is $225.

What advice does Junior Trader give regarding taking profits and managing positions?

Junior Trader advises taking partial profits at higher extensions and reloading into pullbacks with a stop loss on the other side of the bullish structure.

What is the overall sentiment expressed by Junior Trader towards the market and Tesla's stock in the video?

The overall sentiment expressed is bullish, with Junior Trader being happy about the strong market performance and the rise in Tesla's stock.

Outlines

00:00

🚀 Tesla Stock Analysis & Bullish Outlook

In the first paragraph, JuniorTrader begins with an enthusiastic greeting and dives into a price action analysis of Tesla's stock. He highlights that Tesla is performing well, especially considering its current price above the $23 level and the 200-day moving average. The video emphasizes that the content is for educational purposes only and not financial advice. JuniorTrader discusses the importance of Tesla's price staying above $23, which is a key level for an inverted Head and Shoulder pattern, suggesting a bullish trend. He also mentions watching for potential resistance around $225, where there was a previous high volume of short selling activity. The summary ends with a bullish stance on Tesla, as long as it remains above certain support levels.

05:01

📈 Bullish Market Trend & Analysis on SPY and QQQ

The second paragraph shifts focus to the broader market, specifically the SPY and QQQ ETFs. JuniorTrader has been bullish on these, and he outlines the key levels that have been surpassed to avoid bearish patterns, such as the head and shoulder formation. For SPY, he mentions the importance of staying above 524 and 538, while for QQQ, the focus is on staying above 448 and 460. He discusses the bullish structure of both ETFs and advises on managing positions with stop losses. The paragraph concludes with an optimistic view of the market's strength and a personal note of satisfaction with his portfolio's performance, particularly with Tesla's rise to $215.

Keywords

💡Price Action Analysis

Price action analysis is a method of trading that focuses on the study of price movements and patterns, rather than relying on technical indicators. It is a core concept in the video, as the speaker, Junior Trader, uses it to discuss Tesla stock's performance. The speaker mentions that Tesla is 'looking awesome' and is above a certain price level, indicating a bullish sentiment based on price action.

💡200 Days Moving Average

The 200 days moving average is a technical indicator used by traders to identify trends over a longer-term period. In the script, the speaker notes that Tesla's stock price is above the 200 days moving average, which is seen as a positive sign for the stock's upward momentum and is part of the price action analysis.

💡Inverted Head and Shoulder

An inverted head and shoulder is a bullish reversal pattern in technical analysis, indicating that a downtrend might be ending and an uptrend could be starting. The speaker refers to this pattern in the context of Tesla's weekly price chart, suggesting that if the stock closes above a certain price level, it would confirm this bullish pattern.

💡Neckline

In technical analysis, the neckline is a level of support or resistance in a pattern such as the head and shoulders. In the video, the speaker discusses the importance of Tesla's stock price staying above the neckline of an inverted head and shoulder pattern as a sign of a continued bullish trend.

💡Pivot

A pivot point in trading is a level at which a price may find support or resistance, often used to predict future price movements. The script mentions pivot points as levels of interest for Tesla's stock, with the speaker noting that the previous pivot level was $214, and it is now a point of interest for potential resistance or support.

💡Confluence

Confluence in technical analysis refers to the meeting of multiple technical indicators or support/resistance levels, which can increase the significance of a price level. The speaker mentions a confluence of the 20 and 50 days moving averages as a zone of interest for Tesla's stock.

💡Bullish

Bullish is a term used to describe a market condition where prices are expected to rise. Throughout the script, the speaker maintains a bullish outlook on Tesla's stock, expecting it to continue its upward trend as long as it stays above certain price levels.

💡Short Volume Percent

Short volume percent is an indicator that shows the proportion of short sales in the total trading volume. The speaker points out a high short volume percent on Tesla, which indicates significant short selling activity and could be a sign of potential resistance or a price pullback.

💡Hourly Interval

The hourly interval refers to the time frame used by traders to analyze price movements within one hour. The speaker uses the hourly interval to discuss the short-term price action of Tesla's stock, noting signs of bullish strength and potential resistance levels.

💡Bullish Structure

A bullish structure refers to a pattern or set of conditions that suggest a stock is in a strong position to continue rising. The speaker discusses the overall bullish structure of the market, including specific stocks like SPY and QQQ, and provides guidance on how to manage positions within this context.

💡Pullback

A pullback is a temporary decrease in price after a period of increase. The speaker mentions the possibility of a pullback in the context of a strong market, suggesting that even if a pullback occurs, the overall bullish trend may still be intact, and it could present an opportunity to enter or add to positions.

Highlights

Tesla stock is looking promising, with the price action analysis indicating a bullish trend above the $23 level and the 200-day moving average.

The video emphasizes that the content is for educational purposes and not financial advice.

Tesla's stock has surpassed the $23 level, suggesting an upside play for the day.

The stock has also taken out the 200-hour moving average, which is a positive sign for bullish investors.

The inverted Head and Shoulder pattern's neckline is mentioned as a key level to watch, with a potential for a massive move if the week closes above $23.

The next resistance level for Tesla is identified as $214, where the previous pivot is located.

A confluence of the 20 and 50-day moving averages is highlighted as a significant technical analysis point.

The speaker suggests that even if Tesla's stock pulls back to the $210 area, it would still be considered a bullish strength area.

The potential resistance level at $225 is discussed, with historical high short volume indicating potential pullback risks.

The importance of watching the price action closely near the $225 area due to significant short seller interest is emphasized.

The speaker outlines a bullish outlook for Tesla, with the next target level set at 225, as long as it stays above 208 or 210 on the hourly chart.

The analysis of the S&P 500 (SPY) is presented, with a bullish stance since it moved above 524, avoiding a potential head and shoulder formation.

The speaker advises taking partial profits at extensions and reloading into pullbacks with a stop loss on the other side of the structure for SPY.

For the QQQ ETF, a bullish continuation is observed since it moved above 448, with the next target level at 460.

The speaker discusses the importance of managing positions with a stop loss strategy, especially if a pullback occurs.

The potential resistance area for QQQ around 474 is mentioned, but the strong bullish candle suggests it may not act as resistance at the moment.

The speaker concludes that the market is super strong, with a particular focus on Tesla's strength and the potential for further bullish movement.

Transcripts

hey what's up you guys this is Junior

Trader and in this video let's take a

look at Tesla stock and let's do the

price action analysis on this thing we

have a great day not just on Tesla all

the stock market but Tesla is definitely

looking awesome as for this potential

level that it is above at that is the

$23 level and the 200 days moving

average now I also take your QQ and

spine this video but also please note

none of this is any Financial advice

it's only for education purposes and I'm

just providing my opinion here nothing

more than that all right so Tesla guys

so we are finally above again $23 level

and this is the area I provided you

for today as well that if Tesla can get

above this

$23 this is just an upside play today so

we just got that play back again to the

upside right now what from here right

are we just going to continue to stay

bullish like what are we watching right

so the good thing is that we also took

out 200 hours moving average all right

and we are above this $23 level is the

is the area from that uh weekly interval

as well inverted Head and Shoulder

neckline is right over there and that's

something you are already aware about if

you have been seeing my videos all right

so this was the neckline if we can close

this week Above This $23 level then this

is the neckline of inverted Head and

Shoulder right and that's when we had a

massive move and now it's important that

if we can stay above this area $23

neckline that's what as a bull you want

to see this week close at so tomorrow

and most likely in my opinion yes we

will close again nothing is guaranteed

but seems like we will close above $23

level this week now this was the next

level that I talked about $214 that's

where the previous pivot is and then we

have 20 and 50 days moving average

Confluence coming in as a convergence

right now yeah this is the Zone we this

was the one of the moves we got one of

those moves now what from here let's say

for some reason and you might be able to

see some slowdown maybe already over

here right let's go to the hourly

interval now you yeah you are seeing

some you know two hours of slowdown here

but at the same time what are we seeing

we are seeing the this hour particular

this last hour we are trying try to go

back up again so that's also a good sign

you know as a as a bull for Tesla

right now from here

on even if we come down to

$210 area we are still just going to

remain bullish that's just a bullish

strength bullish area for Tesla to be at

so nothing to worry about in my opinion

as long as we stay above $210 and then

if we continue above

214 um you know then the next level for

us is 225 that we can be watching on

Tesla now that's where I do want to

highlight that um once we start to get

closer to like 225 area uh there's a

previous High shot volume present over

there so let me actually pop that on on

my

indicator and here you can see that and

this is quite high on Tesla right like

um this is not necessarily at 225 it's

above it's around 232 but I just want to

point out that after that gap down that

47 short volume percent came that one of

the days that led to also a subsequent

sell off over the next couple of days

233 does still remain will remain as a

strong resistance and let's say if we

get to 225 eventually after

24 just be a little bit careful we have

to see the price section very closely

here how it would do any pullback if it

does

but just keep that in mind because short

sellers have shown interest quite a lot

and they were successful bringing it

down and 47 is a huge that's that's a

huge short volume percent guys on Tesla

so um and so yeah so far um things are

looking good and at least NE leg next

leg up is possible up to 225 in my

opinion with Tesla over here other than

that um no yeah I it's bullish and at

least it this rebound is continuing this

was the next pivot level as I talked

about after we stay above 203 214 was

the target we got that and now if we get

above it the target is

225 and as long as we stay above 208 or

even 210 the hourly interval that I

showed you we are just fine we are just

bullish on Tesla from here on all right

okay let's go to spy and kikq let's take

a look at those two

things so Spy Guys as I have been saying

we are bullish and this is something I

have been calling out well so structure

524 and above was the area that I was

saying if we can get above it that will

gets us out of the Harm's Way of

potentially this forming a big head and

shoulder so that was good we got out and

above it so negtive potential formation

of Head and Shoulder and then this was

this blue box first Target was the blue

box and after this out and above blue

box we would have just remained bullish

we have also taken out previous pivot

and spy is SC skyrocketing back up again

I'm not seeing any sign of bearishness

even yesterday I talked about as long as

we stay above 538 area now we are just

bullish and we are continuing just

higher let's go to the hourly interval

and right now I'm not seeing any sign of

slowness as well I won't be surprised if

tomorrow some cool off comes after such

a massive run up right so there are two

levels to watch for that let's say if

any cool off starts to happen you are

watching the level of 550 and you are

watching definitely 20 hours moving

average but at this time if we even stay

above 546 and 95 cents on

spy we will still remain bullish

eventually yes it's a deeper pullback

but that will still keep it bullish

structure though all right spy is

overall in the bullish structure as I

always say take partial profits up in

the extensions and um you know reload

into the pullbacks right with the stop

loss on the other side of the structure

kikq very similar to spy we got above

the level of 448 we have been bullish

since then then I provided you this

level of

460 if we continue to stay above it for

today as well we would just have stayed

bullish and we got that even if pullback

would have come structured until 448

would still have remained bullish on

this thing now well we never got that

pullback we are just continuing higher

because structure was already

bullish and accordingly will manage your

position with the stop loss on the other

side if if that's something you're

planning to

do but yeah so QQ opens up the door

again well actually to 487 now um let's

take a look at hourly interval and again

well one more thing here is I want to

point your attention to the reason I'm

really not highlighting this area right

now 474 but this is the zone of some

pivots right and a previous structure

area the reason I'm not right now

highlighting it too much because it's

such a strong green candle if I see vix

down here slow down you know Vick coming

up on the top things slowing down sell

off coming then I would consider this

level as a resistance but right now

since the scandle is so strong I'm not

seeing that resistance acting on it

right so you have to see the price

action at these levels to make that

decision so let's go to the hourly

interval and even over here guys as long

as now KQ let's say if it resist at this

area pretty much what I talked about and

if we do some sell off which right now

I'm not seeing any sign of that but for

let's say any reason it happens to

tomorrow all right we would still remain

in the bullish structure as long as we

are above 467 all right QQ is still

bullish if any pullback comes that's

fine that's just going to be a pullback

structure on this is still going to

remain bullish until then all right yes

Market is super strong looking great

crazy super strong market and uh I'm

happy like my portfolio is really green

I love it and Tesla up now to 215

already so let's go to the hourly

interval again just before wrapping up

um and I'll actually let's go to the 5

minutes yeah so looks like it's all

already trying to go up with no sign of

slowing

down uh right over here looks like it's

going to just want to form a pivot here

and just want to continue up from here 5

minutes interval wow look at such a

strength on this

thing

yeah like very little to no pullback is

coming right like uh very little to no

pullback still very strong and and it's

looking amazing looking

amazing all right guys so that's it for

this video and if you found it helpful

valuable please hit the like subscribe

and I'll see you in next videos take

care bye