TSLA Stock Forecast using TSLA CHART for Technical Analysis

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 a gap yet to be filled. We may see this gap filled next week if the market takes a downturn after Jerome Powell speaks, but for now, Tesla is bouncing off a level of support.

The video examines different charts, starting with the weekly chart, which shows the current area where Tesla is gyrating between a level of support and resistance. The daily chart shows a nice move, but today the stock seems to be struggling. The speaker then zooms into the minute chart, which highlights the recent struggles and volatility of the stock.

The hourly chart looks a little better, with a small level of support that Tesla is currently bouncing off. However, the upper level of resistance seems to be tough to break, and Tesla is struggling to knock out these levels.

The video also briefly touches on the fact that Tesla is currently in a primary, secondary, and tertiary downtrend, with no significant levels being broken to the upside. This is a cause for concern, and the speaker hopes to see the stock make some similar moves to Nvidia in the future.

I conclude this video with a bonus discussion on the SPY and the market next week which the move will be huge due to Jerome Powell’s speech. This is a must watch so be sure to stay tuned til the end of the video.