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What are Tesla Bulls Waiting For?U.S. Markets finished up over 1% for the day, setting up an interesting end-of-week trading session. The jobs report lands tomorrow at 8:30 AM EST. and will likely determine the next trend. Today we will go over the PowerShares QQQ (QQQ) and Tesla, Inc. (TSLA). But, first I want to mention that a few days ago I posted a GLD chart stating that it was setting up for some upside. Today may have the start of that upside. Could the market be front running the jobs report tomorrow and could Gold be the sole beneficiary? Another hot name of note today was Square, Inc. (SQ) which blew up for nearly 10%. If you read over a week ago I mentioned that SQ was setting up with a cup and handle pattern and a measured move target of 73... target met. All the "HOT" Tech Names Reported...Right? It's obvious, tech has contributed to a vast majority of the rally off the March low. That is why I have been tracking the QQQ so often. The question I have now is, have all the hot tech stocks reported earnings? Nividia is the only one I can think that hasn't reported yet. Just something to think about. Below is the 4-hour chart of the QQQ. I zoomed in a bit to get a cleaner shot of this rising wedge. Normally bearish, though there are instances when there are upside breaks. At times there are throw overs . Which happens when price breaks out from above the wedge then quickly reverses back into the wedge. Typically this turns out to be a strong reversal and has happened before on the Nasdaq-100 (NDX). Check the chart below. The result of the throw over can be seen above. Unfortunately, back in September 2018, price reversed back up but eventually met the lower bound of the rising wedge which acted as resistance. Eventually, the NDX declined 23%. This is the scenario I am looking at. Current price action may lead to a throw over so watch for this potentially tomorrow. Bias: Bearish . Elon and Joe...Again I haven't listened to or watched the latest stint of Elon Musk on the Joe Rogan Show, so I can't speak to that. I can talk TA, and TSLA, a normally volatile stock traded sideways today netting a loss of -0.32% for the day. Perhaps the calm before a larger move to come? Below is the 4-hour chart of TSLA. Chaikin continues to mimic itself from over a month ago. Price is also consolidating at the high below resistance while inching closer to trendline support. The longer it takes for the TSLA bulls to follow through the more bearish this chart gets. Keep an eye on TSLA the next few days, as it may be the key to the market. Bias: Bearish . I'll be posting early in the morning ahead of the jobs report. I'll be taking a look at the VIX and Silver. Have a great evening!
NASDAQ:TSLAShort
by DailyClose
2
Tesla Bulls Getting Punk'd!Today U.S. equities squeaked out nominal gains on the major indices, led mostly by tech and a strong rally by Tesla. With the unemployment rate being announced on Friday, this week could be setting up the next sharp move to the downside, as it is suspected that the unemployment rate is going to increase substantially from the the 4.4% reported in April. To dampen matters for the bulls, the Fed announced further cuts to its QE bond purchasing...hmmm. Today, we go over Tesla and why I believe bulls should be concerned. Tesla Bulls Punk'd! The stock that stood out today was Tesla, Inc. which posted an 8.54% gain as it attempts to break overhead resistance. This resistance level is not joke and may actually take a few attempts to break through. Why the "big" rally? Technicals. Tesla, was oversold on lower time frames and if more downside is to come sometimes price must return to a median. On the chart below you see the Tesla 4-hour chart and I highlight two key points on why I believe the Tesla rally will be short lived. During the Tesla parabolic run-up, notice how the volume differs to the current volume on a similar rally. The volume is currently descending. This should provide pause to the bulls. Although eh true direction of the Tesla stock is to be determined for the long term, there are clues that this rally is part of a larger consolidation. Furthermore, proof that the short term rally could be short lived is Chaikin Money Flow (in green). Currently in the negative, the last time it remained at neutral, a -45% ensued. I would be careful building any bullish positions at these levels. Levels I am watching for buying begin at $450. Bias: Bearish . Going Forward Going forward I will be selecting one chart to review and it'll be a bear or bull call. It'll be one post a day until I can can figure out my schedule. I am also experimenting with the kind of content that people will enjoy. Thank you if you have been following me the past few weeks. I will be providing more content one my website goes live! If you have any suggestions pleas feel free to post in the comments.
NASDAQ:TSLAShort
by DailyClose
7
TSLA - The down fall of Tesla Pt. 3If you find this information useful - leave a comment and a like. thank you! Hello Friends, My stance on Tesla remains the same. Short. I was bit early to the party on my options but none the less. Elon never fails on being being corrupt. Quarter earnings were pencil whipped to the max. Then Elon goes on to twitter rant. This is what you are getting when you are buying 700-800 dollar per share stock with this guy. I say short the man out of the job. Obviously not fit to run a publicly traded company. Tesla peaked out in the 800's to be rejected with news of questionable ethics from accounting for the quarterly earnings. More news than TA. Sorry friends. This just doesn't sit well with me. As always this is pure speculation for charting - it is not financial advice. If you find this information useful - leave a comment and a like. thank you!
NASDAQ:TSLAShort
by Jeffery-Callis
Still Bullish on Tesla but Elon Musk is Losing his MindFirst off, please don't take anything I say seriously or as financial advice. As always this is on opinion basis. That being said, let me get into a few insights. The spread of the buy and sell today is over 154, and Tesla's price passed a high today of over $869. Why, the price crash? Well, Mr. Musk decided to get creative and tweet, " Tesla stock price is too high imo ", which made it all tumbling down. There is a reason why many people have been mostly setting short targets for Tesla's stock price. Yes, I'm still bullish on Tesla, but someone really needs to describe to this guy how Twitter works.
NASDAQ:TSLAShort
by gamer456148
10
Daily Review: TSLA, FB, and AAPLToday, after a promising start to the trading session, U.S. equities experienced a sharp rejection at resistance and swiftly returned to short term support levels. The Dow Industrials Average closed today -0.13% and for a second day in a row, the Nasdaq 100 lagged behind, ending the session -1.40%. Could this be a sign of things to come? Today, we take a look at Tesla, Facebook and Apple. False Start Over the weekend it was reported by Bloomberg that Tesla was looking into reopening their Fremont factory, which produces Tesla vehicles for North America and Europe. Well, after yesterday's closing bell, those plans got shelved due to an extension of the shelter-in-place order around the San Francisco Bay area. The result, Tesla shares dropped at start of the today's session and ended the day cutting into more than half of Monday's gains, closing -3.71%. Tesla reports their fiscal Q1 2020 results after the bell tomorrow. There continues to be two competing train of thoughts on evaluating Tesla. Either it should be valued as a car manufacture and the story ends or its valuation should be that of a tech company. My money is on it continues being valued as a tech play and it sure trades like one. Let's see how traders positioning themselves ahead of earnings. Above is the 4-hour chart of Tesla. The relative strength index (RSI) is warning that price may pull back in the short term before heading any higher. However, the resistance above is strong. Notice how price has respected resistance and also formed a hammer reversal candle at the top of the range. Price closing above the hammer and into resistance would favor the bulls continuing higher, but the risk is greater than the reward. Bias: Bearish . Early Warning Earlier, Facebook issued a warning that its fiscal first quarter 2020 results were "adversely affected" by the pandemic. Facebook shares proceeded to drop nearly 40% but has clawed its way back a respectable 33% off the March lows. Despite the rally, Facebook, like Alphabet Inc.'s bottom line is reliant on advertisement revenue and this may result in a negative reaction by traders and investors. The charts, aren't favoring continuation. Below is the weekly chart of Facebook. Price rallied into and has been rejected by the 20 week moving average. A critical retest of RSI support is likely next. If Facebook fails to this level, there is a risk of retesting the lows or exceeding the lows. Bias: Bearish . Delay on the Horizon? Lately, there have been rumblings that Apple will be pushing back their production of new iPhones with 5G capabilities. It wouldn't be a surprise. Apple, had already pulled guidance citing the production problems and sales in China. Moreover, the evidence of a delay could already have been priced in some of Apple's suppliers, Skyworks Solutions, Inc. (SWKS) and Qorvo (QRVO) who rely heavily on Apple for revenue. What are the charts telling us? Skyworks and Qorvo had strong performances today, both finishing up nearly 3% for the day, perhaps signaling good news out of Apple's earning results. However, unlike its suppliers, Apple ended the trading session -1.62%. On the daily chart above and you see that Apple was rejected near the top of its short term trading range. Note the doji candle that formed on April 16th has been respected. A daily close above would favor the bulls. From a trend perspective, there is evidence that the trend has ended and Apple has begun a period of correction. On the chart below is the presumptive Elliott wave picture. Notice how the last move consisted of five waves up. If it stands, the fifth wave would have truncated (failure to go beyond wave three). The Apple chart has begun to show signs of weakness. As the second largest component of the Nasdaq 100, be wary. Where Apple goes from here will drag down the index. Apple is not a safe bet heading into earnings. Bias: Bearish . Top In? This week started off with a bang and as today came to a close the promising start to the week seems like the distant past. Once I noticed the Nasdaq 100 lagging yesterday, I knew that was a red flag. Although there is mounting evidence favoring a correction. I still believe there will be opportunities to buy some names heading into earnings. Tomorrow we review Amazon, Shopify and Virgin Galactic Holdings. Have a great evening!
NASDAQ:METAShort
by DailyClose
2
Cybertuck Go Crash? (TSLA)Woah, woah, woah hey now! It's ya big homie coming at you with another one of these fire TA 🔥 I got the daily pulled up on the big wild beast TESLA. Elon could be calling up his A.I. hedge fund from Mars right now telling them to go short. Or is Elon hoping in his Cybertuck to go fuel up the rocket? We got the compression showing indecision. Let's factor in the run from the recovery process. Lots and lots of green. When the compressed doji crosses over the green brick under it. Strong sign of a short. We at the indecision stage. I say fire short here at $725 With roughly a 3 - 5% stop 750 - 760 / Reverse target hit than go long A break above $760 I think would lead to a massive surge. Crack $700 I think it sells off Based on the fact that if you look at like a 6 hr chart. It's overall pattern on these style of timeframes look like a massive cup. Which is bullish. I just think we are a little to overextended and could cool a little bit. If I had to put price targets. If it goes short I think next we can shoot for the $640 If it broke long than really the only next level is $900. Break those targets, well than you are looking at a strong trend continuation Those will be very important levels. Right now we are at that sweet spot. Zone in on it.
NASDAQ:TSLAShort
by UnknownUnicorn2319099
43
TSLA - Not FOMOing in any time soon!TSLA looking hella toppy right now. Has not passed it's former high @ roughly $950 RSI approaching overbought territory. This is a stock that is realistically attracting investors who are driven by profit and you can see the sell-offs causing massive price fluctuations of over 50%, therefore better to be careful considering the current market conditions. No reason to be bullish at all unless we get to our all-time high again in which I would say is not likely at this moment. I would expect traders to be even more driven by profit-taking considering the amount of blood and volatility in the market right now. This is a very popular stock at the moment and I would rather have a buy the dip approach. Tremendous opportunity in TSLA considering the large swings. I could see much cheaper prices ahead of us as people continue to take profits at this range. We could go as high as $820 and I still wouldnt change my sentiment. If we close daily candle bodies above the $820 I would only then reconsider my strategy.
NASDAQ:TSLA
by thiluxan_s
$TSLA : This Is An Update From My Previous PostI originally made my initial publish on this website on the 13th of April. This publish is just a magnified look at that one. As you can see, the theory is holding pretty fair right now. Earnings still seem to be expected between the 22nd, and the 29th. Most seemingly expect it on the 22th. I believe as long as many maintain the belief that earnings will be on the 22nd, there will be continued strong resistance at around $750. There is mounting evidence that PUT options have and continue to increase on $TSLA, so i don't see it break that $750 threshold. In my opinion, i'm not looking to short until it goes below $700. At that point i will inspect how it moves from there and holds to the resistance of $700. If it continues at or about that range, the longer it does, the more confident I will be to short it after the 22nd. However, if it falls below $680, i don't see BULLS regaining control, in fact, most should be struck with fear and sell out to maximize profits. They wouldn't want to get caught in that free fall. After that free fall I'm looking to buy long term (depending on where I have 3 possible support zones) between the ranges of $415 and $350. I don't expect it to go lower than $350 with Tesla being a leader in its industry. Please like and let me know what you guys think. Again this is an update to my last publish, for more information please review my previous posts. I do not give away my personal signals.
NASDAQ:TSLAShort
by russkishurik
2
TSLA - Tesla S/R levels Hello traders, Description of the analysis: Tesla is currently testing the resistance that has the main reaction area around 740. Here I see the probability of short-term refusal of higher prices or consolidation in the band. Remember that primary S/R zones are only zones of increased probability of primarily rejecting lower/higher prices. If you want to own the underlying asset at a lower price, you can sell the put option at the requested price, you will receive a premium as a bonus and you will own the shares after exercise. Remember that 1 option = 100 shares. About me: Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (4 000 000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades. Jacob
NASDAQ:TSLA
by Jacob_Kovarik