Tesla Stock Analysis | Massive Move | Tesla Stock Price Prediction | SPY & QQQ
Summary
TLDRIn 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
- đ The video discusses a bullish outlook on Tesla's stock, emphasizing its performance above the $23 level and the 200-day moving average.
- â ïž The analysis is for educational purposes only and not financial advice, as stated by Junior Trader.
- đ 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.
- đą If Tesla closes the week above $23, it would confirm the bullish pattern and potentially lead to further upward movement.
- đ 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.
- đŒ The speaker suggests that even if Tesla's stock price pulls back to the $210 area, it would still be considered a bullish zone.
- đ However, caution is advised as the area around $225 has previously seen high short volume, indicating potential resistance.
- đ The overall sentiment for the stock market, including Tesla, is bullish, with specific focus on the S&P 500 (SPY) and QQQ.
- đ For SPY, the speaker highlights the importance of staying above the 524 level to avoid a potential bearish head and shoulders pattern.
- đ 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.
- đ 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
đ 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.
đ 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.
Mindmap
Keywords
đĄPrice Action Analysis
đĄ200 Days Moving Average
đĄInverted Head and Shoulder
đĄNeckline
đĄPivot
đĄConfluence
đĄBullish
đĄShort Volume Percent
đĄHourly Interval
đĄBullish Structure
đĄPullback
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
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