In this video, I focus on the current state of Tesla’s stock and what needs to be achieved at the moment. After recently discussing Tesla’s lack of progress, the stock has failed to achieve much success and is currently hovering near its recent lows, with …
Alright, let’s summarize this week in Tesla. I’ve been gone for a couple of days but I’m back now and today I’m going to do things a little differently. First, I’ll talk about the weekly, then the daily, and finally the monthly. You’ll see why …
In this video, I’m going to quickly talk about my concerns regarding Tesla’s stock. In my last video, I mentioned something that was really bothering me about Tesla, and I wanted to cover it in this video. I’m going to focus on the weekly chart, which is easier to decipher.
I have drawn three downtrend lines on the chart. The primary downtrend line has the most touches, which is three. The secondary trend line has two touches, and the tertiary trend line has one touch. These trend lines indicate that we are still in a downtrend.
I have also drawn Fibonacci levels on the chart, which represent significant points of retracement. The levels I drew are the 38.2%, 50%, and 61.8%. Despite Tesla’s recent 100% up move, we still have not cracked the 38.2% level of resistance. This level could be a level of resistance or a turnaround level where the stock turns around and continues the downtrend.
Suppose we breach the 38.2% level of resistance and move up to the 50% retracement level. In that case, this would put us at $258.15. This is a nice move from the bottom, but we have only retraced 50%, which is a common level where the stock can pull back, and it also hits the secondary level of downtrend.
If Tesla were to keep moving up, we have two levels of possible resistance using trend lines and Fibonacci levels, the 50% retracement level and the secondary downtrend line. Tesla could easily make another move up and then follow the downtrend momentum.
The 61.8% Fibonacci level is the most common level of resistance, and it lines up perfectly with the prior levels of resistance. This would bring us to the primary downtrend line. Tesla is still in a downtrend, and even though we have seen a significant move, we need to remember that it is still in a downtrend.
While we can ride Tesla’s stock up and make some money in the meantime, we need to keep in mind that we could turn it around and continue to drift along the trend line, especially if there is weak geopolitical stuff going on. We could be slowly drifting to the downside, which is not exciting for short-term trading.
To get excited, we need to break one of the critical areas, such as the downtrend line. Until then, this move means nothing, and we need to be cautious. Tesla’s stock is still in a downtrend, and it’s important to keep this in mind when making investment decisions.
In the world of stock trading, Tesla is one of the most talked-about companies. Its unique approach to the automotive industry has garnered the attention of investors and analysts alike. However, with the recent downturn in the market, Tesla’s performance has been put to the …
I start the video discussing the overall market, which had a very bad day the day before the video was recorded. The Dow was down 700 points, the NASDAQ was down 2.5%, and the S&P was also down. I predicted the market downturn in a …
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.
Here is a quick look at my stock portfolio. Here on Dretrades, I will show it from time to time. As you can see from the gains and from the Charles Schwab StreetSmart Edge Software; I am a trader that actually pushes the button. Big …
Nio Stock has been on a tear lately so it is definitely worth taking a look at it on this blog. It’s even better that I produced a video on it breaking down all of the technicals on the chart. The way I do technical …