TESLA Stock - TSLA Big Move Coming Soon?

Summary

In this Tesla stock update, the creator discusses recent movements in the stock market, analyzing Tesla's technical patterns and key price levels. They highlight the importance of key support and resistance zones, including the $323 and $333 ranges. The discussion focuses on potential bullish and bearish scenarios, referencing indicators like the stochastic, MACD, and EMAs. The video covers the risks of a potential bearish breakdown, emphasizing the 270-290 support range. Overall, the creator stresses the need to react to market shifts rather than predict them, offering a thorough analysis of Tesla's potential future movements in the short to long term.

Takeaways

• 😀 The video is focused on analyzing Tesla stock's recent performance and what could happen moving forward.
• 😀 The host emphasizes that this is not financial advice and shares technical analysis, offering insights for members on a daily basis.
• 😀 A recent breakout in Tesla stock was predicted using a 50-minute bull flag pattern, and the target was set near $333, which was almost reached.
• 😀 The host discusses the importance of the $323 support level, noting that its loss led to a loss in momentum for the stock.
• 😀 The stochastic indicator was used to identify momentum, with the green zone representing bullish momentum, which was lost after the $323 level was broken.
• 😀 If Tesla stock stays below $323, the expectation is for a potential drop towards the $310-$315 range, depending on how quickly it happens.
• 😀 There is a strong resistance near the $333-$335 range, which has been a barrier in the past. A breakout above this would be key for further upward movement.
• 😀 On the bearish side, there is support near the $300 level, with stronger support in the $270-$280 range, but losing these levels would be a significant concern.
• 😀 The daily chart shows that Tesla is in a descending channel, and breaking this channel or dropping below $270 could signal a more bearish outlook.
• 😀 The MACD is still showing bearish signals, which has led the host to caution that the recent upward movement may be a trap, with a potential for a larger sell-off.
• 😀 While there are risks, the video highlights that the stock is still in a rising channel, and there is a chance for Tesla to break out and head toward higher resistance levels, such as $380-$400, depending on market conditions.

Q & A

What does the presenter expect from Tesla stock moving forward?

The presenter expects Tesla stock to either break out in a bullish or bearish direction, depending on key support and resistance levels. Specifically, the stock may move towards the lower trendline around $310 to $315, or break above the $323 mark for potential upside.

What key technical indicators does the presenter use to analyze Tesla stock?

The presenter uses several technical indicators including the exponential moving averages (EMAs), the stochastic indicator, and the MACD. The stochastic helps assess momentum, while the MACD is used to gauge potential bullish or bearish trends.

How does the stochastic indicator impact the analysis of Tesla's momentum?

The stochastic indicator helps determine momentum in the market. When the indicator is in the green zone, it signals bullish momentum, while moving outside the green zone indicates a loss of momentum and potentially bearish conditions.

What levels of support and resistance are critical for Tesla stock?

Key resistance levels for Tesla are around $333 to $335, and any breakout above these levels is crucial for potential further upside. For support, critical levels are $300, and if Tesla falls below $270, it could signal a much more bearish trend.

What concerns the presenter about the current MACD behavior?

The presenter is concerned that the MACD is still showing bearish signals despite some upward movement. The MACD is not confirming the bullish move, which suggests that the current upward price action might be a false signal or a temporary correction.

What is the potential bearish scenario for Tesla stock based on the analysis?

In the bearish scenario, if Tesla falls below key levels like $290 to $270, it could trigger a major downturn. The chart formation may resemble a large bearish flag, which could result in a decline to sub-$200 levels.

What would the presenter consider a major sign of a breakout in Tesla stock?

A breakout would occur if Tesla stock rises above its key trendline and recaptures the mid-$330s level. This would signal a shift towards bullish momentum and potential continuation upwards.

What is the significance of the Fibonacci levels in the analysis?

Fibonacci retracement levels are used to identify potential reversal points. In Tesla's case, the 0.5 and 0.618 Fibonacci levels are key areas to watch. If the stock continues to respect these levels, it could signal further downside or upside, depending on the direction of the breakout.

How does the presenter differentiate between being bullish on Tesla as a company and on its stock?

The presenter acknowledges being a Tesla bull but separates their opinion on the company from the technical analysis of its stock. While they may believe in the company's long-term potential, they are cautious about the stock's short-term price movements based on current chart patterns.

What is the potential risk for Tesla stock if it falls out of its current rising channel?

If Tesla falls out of its rising channel, it could trigger a significant bearish move. The presenter highlights the risk of a major breakdown below $290, which could lead to further declines, potentially to the $270 range or lower.