Today, I am excited to talk about Tesla’s recent performance. The stock has been on fire, and those who were in at the recent lows have seen a 115% increase. However, I have to remind you that Tesla is still in a downtrend and we must use caution as we may see a sell-off after the upcoming investor day on March 1st.

In this video, I focus on a 15-minute chart, noting that the stock has been on a positive run for a month, but there was a disappointing day last Thursday with a big red emotional candle.  This is a sign for day traders and swing traders to take a pause and wait for the stock to go down a little bit. The stock did go down to 197, but then had a nice turnaround on Friday with a 5.71% increase.

I draw a trend line, showing that Tesla has broken trend on a big emotional candle and closed on its low. If we get a big green emotional candle, it could be a sign for the stock to go up. I expect to see another emotional candle somewhere to continue the trend to the upside.

On the weekly chart, the volume is insane and I expect the stock to tag the down trend line at around 250 by March 20th. The 15-minute chart is a great way to trade and I encourage everyone to share their thoughts on Tesla’s performance in the comments of the video.

Overall, I provided an insightful and engaging analysis of Tesla’s recent performance and price action. While the stock’s impressive gains, I must reminds viewers of the stock’s downtrend and the potential for a sell-off.  Remember my videos always offer a valuable technical analysis, including the importance of emotional candles and trend lines, and provide an easy-to-follow approach to trading.