Transcription
Hi, this is Kri Artech with Wicked Stocks, bringing you your daily Tesla report for Friday, March 7th, 2025. Let's take a look at the chart. I'm going back several weeks when we closed below the 340.80 to 345.53 area. 340.80 is a downside 38.2 Fibonacci from the January AR low against the more recent December high, and 345.00 is this channel top—a two-year channel top that we settled above several months ago, then indicating 507.99 as a 2- to 3-month target. We came close to testing it about a month later, only to come cascading south. It was the settlement 3 weeks ago below 340.80 that then set up 253.88 as our next objective. This was considered a 1- to 2-month, possibly within a 1- to 2-week target, given the symmetry that can occur with these church steeple hyperbolic rallies. That is essentially what's played out. We got down to 260.05 on Thursday, not far off 253.88.
Now, 253.88 is part of a range, kind of the slippage factor. Below 253.88 is the 249.50 4.58 Fibonacci, which is using the same points—the January low against that December high. This area is well-suited to contain selling pressures into later this year. I'm giving it an annual status. Now, if—and I might as well mention this right now—we were to close below 249.50 today, for instance, present volatility does allow that. I'm not expecting it, but I say allow it because of the state of volatility right now, and I'm just giving the heads up that if we close today, the week itself, below 249.50, we enter another significant sell signal, every bit as significant as the one several weeks ago below 340.80. Now, anticipating a full 100 points roughly to the downside, into the 153.14 to 159.24 area. This could be just as fast; this could be within 3 to 5 weeks or faster. It could also take 2 or 3 months, depending on volatility. But I venture to say that if we close now, as we're falling like we have been, below 249.50, that momentum remains intact, and we could fall into the 153.14 to 159.24 area by the end of April. 153.14 to 159.24 can absorb annual selling pressures if tested, and it does become our next objective if we close today below 249.50. Until then, this is bottom-picking territory.
249.54 to 253.88 can absorb selling through March into April. From here, we can push back into the low to mid-340s within a matter of 2 to 3, 3 to 5 weeks. In fact, it really is 353.26, not shown here, that I considered to be a 3- to 5-week objective once we test 253.88. So, as we, or if we test 253.88, this channel bottom all the way down to 249.54, if we test this area today, first off, anybody who shorted the market should cover those shorts because we can bounce nicely off of here through the rest of March and into April. And you can also reverse and go long, go long back into the 340s. I've got 353.27 here as a newly formed descending channel top. I say newly formed because it's based in part on Tuesday's low. 353.27, dropping gradually, it is an area that can absorb buying on a monthly basis. I consider this a realistic 3- to 5-week objective above 253.88, or once we test 253.88. But we've come pretty darn close to testing it as is, and even if we come off it from here, we will be able to say we came very close to reaching our objective.
I do want to mention that on Thursday, WickedStocks.com put out a stock pick on Oracle; you might want to check it out. On Tuesday, we put out a stock pick on Taiwan Semiconductor. You can see it all for free by going to WickedStocks.com and taking advantage of our 5-day free trial. You'll see not only this week's stock picks but last week's stock picks, some of which are still very relevant, also daily triple Q, daily SPY analysis, weekly analysis, and Apple, S&P 500, NASDAQ 100. You get it for free, 5 days upfront, so go to WickedStocks.com so you can see the Taiwan Semiconductor and Oracle stock picks. So, upside today, let's cover the day itself to the upside. 293.75 is it in reach now? We do have a 288.425. I mentioned a moment ago, if we happen to push through 288.425, 293.75 is in reach. At 293.75, you may consider playing the short side over the following 3 to 5 days back to 253.88. But we've come so close to testing that targeted 253.88 formation that I'm a little reluctant to play the short side of the market so close to that zone. You can do with it as you may. 293.75 is a pivot point one way or the other, and once tested, we can fall away from there into later next week. But if we do close above 293.15, we are then expecting, within 1 to 2 weeks, the 340.80 to 345.53 region, which is, as I said earlier, part of a range up to 353.15. So, if we close today above 293.15, that 353.27 formation becomes a realistic 2- to 3-week objective.
Where, so you could go long. I'm going to mention that it's kind of implied and goes without saying, but if we close above 293.15, if you're short, reverse, go long. If you're out of the market and you're interested in buying it, go long. You're either bottom-picking 253.88 right now or, if you're more of a 2- to 3-week swing trader, you're buying a settlement above 293.75, then anticipating 353.15 within 2 to 3 weeks, probably more like two weeks. 353.27, a 98.75 April trade, and we can fall away from there back into the 250s. It would be a settlement of 233.27, however, that would signal a good low through the second quarter. Bullish continuation then expected over the following 2 to 3 months to 507.99. But this church steeple situation—I just need to mention that the likelihood of gaining that lost ground is going to be a hard-fought battle. Yes, we can spring back into the 340s, into the 350s, perhaps as I showed here at 353.27; we can spring back into this area. But an outright V-shaped rally from here, I don't think it's likely. These tend to hold longer term, and if we close below 249.50, longer term, it is because I would say over the next month or two, it's the low to mid, low to upper 150s, where yes, we can bottom out through the rest of the year, but then I think we enter a kind of a prolonged consolidative phase as the market sort of really tries to figure out where it's going from there. So, I know I'm humanizing the Tesla stock, but I'm talking collectively, right? Anyway, I think that that pretty much rounds it out. Please click like, share, subscribe, and check out those stock picks we put out this week on Oracle and Taiwan Semiconductor. I will be back Sunday afternoon with Monday's Tesla. You have a great weekend.