Transcription
Hi, this is Ker RAC with Wicked Stocks, bringing you your daily Tesla report for Tuesday, January 21st, 2025.
Let's take a look at the charts. I'll start with the big picture here, and that is to say, if given the opportunity in the coming weeks to buy 34226, it does represent a solid zone of support able to contain selling into the second quarter of this year. From there, we can round up, I almost want to say back up to the 504 765e Channel top, but we didn't actually test that channel top five or six weeks ago. We came close to it and then fell away.
I'm going to kind of call it a bit of a mixed bag right now, probably more of a neutral dynamic where the market tips its hand to the upside if it closes today above 43408, then expecting that 504769 727. Now, I had been saying that holding below 4388 will keep 34226 in reach over the next 2 to 3 weeks, and that 343 34226 is once again the 2-year Channel top we settled above a couple of months ago.
But in terms of this sort of sell signal clarity and reliability, I think it really is a settlement below 38727 that is the no-brainer follow-through to 34226 within a week, two at the most. 3 to 5 day swing traders, though, can play sort of ping pong between the two, if you will, selling 43408, buying back at 38727, getting long at 38727 in anticipation of upward rotation back to 43408. We could trade inside of this similarly shaped structure for the next couple of weeks.
Perhaps let's talk downside. Given the fact that we didn't close above 43408, the emphasis does remain down, if you will. That is to say that we do have 41907 as an intraday support, short-term 3-day Channel bottom. We could break that quite easily, and if we do, 4492, the extreme Channel bottom, is in reach on an intraday basis.
Now, we could place a daily low here, but if we break 4049 too, we could, by the closing bell, actually test 38727. I think the likelier outcome would be a settlement today below 4492, then indicating 38727 Wednesday, Thursday of this week, where we could actually bottom out for the week itself and then round back up to sister formation at 43408.
If we were in the next week or so to close below 38727, once again, this 34226 long-term support is expected within a matter of 1 to 2 weeks, where we actually could place a good low well into, if not through, the second quarter.
Talking upside now, we do have the 43408 channel top, and if we happen to push or open above it, 4613 is in reach today. That is a solid level that can contain daily highs. It is a one-week Channel top on the way up. We do have 44441 as an intraday resistance. You know, it is a 5/8 upside Fibonacci from that December high against that more recent low from a few weeks ago.
44441 can contain intraday buying, but really, if we push, especially if we open today above 43408, 4613 is in reach today. If we do close above 4348, you can anticipate then the 50476 long-term Channel top within about 2 to 3 weeks.
So, closing above 43408, no good reason to be short. Stay short as we move through the rest of January and into early February. The next 2 to 3 weeks then likely to reach that 50476 Channel top, where we can place a good first quarter high out here, possibly through the second quarter.
This is, after all, a 5-year Channel top that may well contain longer-term buying pressures. I will say, and we're certainly not going to see it anytime soon, but if we did close above the 504769 73 as a realistic 3 to 5 week objective, over the following 3 to 5 months or sooner, 72717.
But we're nowhere near that right now. I see kind of a two-sided framework for the next week or two. Below 43408, anticipating a 38727, both of which can contain weekly activity. If we close above 43408, you might reach for 505 strike out of the money calls that don't expire. I'd go six to eight weeks out on that expiration, given that 2 to 3 week move.
Inversely, if we were to close below 38727, I see 34226 as a 1 to 2 week objective. Under that scenario, you might reach for 340, 345 strike out of the money puts that don't expire for at least 3 or 4 weeks on that 1 to 2 week move.
I think that pretty much rounds it out. Please click like, share, subscribe, and check out wickedstocks.com. You'll see all of our recent stock picks, our daily triple Q, our daily spy, our weekly Apple stock analysis.
Apple, by the way, did test its equivalent to 504769, reached it, and has been falling away ever since. So you might want to have a look-see as to what our objective is because if Apple can bottom out at its perceived target, which may be reached over the next week or two, that would likely be consistent with a possible good low and support in the broader market, the NASDAQ 100, the triple Q, etc.
I think that pretty much is all I need to say. I'm going to leave it at that for Tuesday's Tesla report. You have a great day.