TESLA Stock - Massive Bear Trap?? Is TSLA Ready To Rally?

Summary

In this Tesla update video, the host discusses the stock's recent 4% rally, closing at around $214 per share. Despite a bearish MACD crossover on the daily chart, the stock remains above the critical $203 level, indicating bullish potential. The video highlights a breakout from a downward channel on the 1-hour chart and a potential false bear trap, suggesting a possible bullish reversal. The host also touches on Tesla's seasonality, noting that September is typically bearish, and speculates on potential price movements based on technical analysis and market patterns.

Takeaways

• 📈 Tesla's stock closed with a nearly 4% rally, finishing around $214 per share, outperforming the market.
• 📊 Despite a bearish MACD crossover on the daily chart, Tesla's stock price remained above the crucial $203 level, indicating bullish potential.
• 🔄 The MACD has since crossed back to bullish, suggesting a potential false bear trap and a possible price slingshot in the opposite direction.
• 📉 The stochastic indicator is showing signs of a potential reversal, starting to curl upwards instead of pointing straight down.
• 📌 The daily chart shows a breakout from a downward channel, which could be interpreted as a bullish flag, suggesting a potential upward trend.
• 📉 The 1-hour chart indicates a breakout with some follow-through, which is a positive sign for the stock's short-term trajectory.
• 📅 Historically, September has been a bearish month for Tesla and the broader market, with potential for a mid-month correction.
• 📊 The BX trender shows a fresh higher low, indicating bullish accumulation and a reduction in the chances of breaking below the $203 range in the short term.
• 📈 The speaker anticipates a potential rally in the first half of September, followed by a possible correction in the second half due to seasonal trends.
• 🌟 The speaker mentions the possibility of an inverted Head and Shoulders pattern and a cup and handle pattern, both of which are bullish technical indicators for Tesla's stock.

Q & A

What was the issue with the original video recording?

The original video had no audio due to a Windows update that apparently altered some settings.

What is the speaker's stance on providing financial advice?

The speaker clarifies that they are not a financial adviser and that the content is not financial advice.

What does the speaker offer in their YouTube membership section?

For $2.99 per month, the speaker offers access to daily thoughts, post updates, technical analysis, options flows, and sometimes other general market stuff. For $4.99 per month, members also get Nvidia daily updates.

How did Tesla's stock perform on the day discussed in the script?

Tesla's stock had a nearly 4% rally, closing at about $214 per share, which was a nice outperformance compared to the market.

What technical indicator was discussed as a concern in the previous day's analysis?

A bearish MACD crossover on the daily chart was mentioned as a concerning sign in the previous day's analysis.

What is the significance of the price level at $203 for Tesla's stock?

The price level at $203 is significant as it represents a support level that the speaker believes is crucial not to lose, as it indicates bullish potential.

What change in the MACD indicator was observed in the daily chart during the day discussed?

The MACD indicator crossed back to being bullish, which is a positive sign and could indicate a false bear trap.

What does the speaker mention about the stochastic indicator?

The stochastic indicator was starting to curl, indicating a potential change in momentum and a positive sign for the stock's direction.

What pattern did the speaker identify on the 1-hour chart of Tesla's stock?

The speaker identified a breakout from a downward channel, which could be interpreted as a bull flag, indicating a potential bullish trend.

What is the speaker's general outlook for Tesla's stock in the short term, considering the breakout?

The speaker is optimistic about Tesla's short-term outlook due to the breakout from the downward channel, suggesting that the downward pressure has subsided.

How does the speaker view the potential impact of September's seasonality on Tesla's stock?

The speaker expects a continued rally in the first half of September, but cautions about a potential selloff in the second half, aligning with the historically bearish trend of the month.