TESLA Stock – A Squeeze On TSLA Is Building Up (Video)

hey guys what's up and welcome to a new Tesla update video so today as per usual let's go over Tesla and let's go over the market if you enjoy the video don't forget to hit that like button it does help a lot this is not Financial advice I'm not a financial adviser and of course um my membership section on YouTube is live the link is below $3 a month I share myday thoughts on Tesla as this moving giving you updates and sometimes on other things like Netflix as well so if you're interested the link is below $3 a month we're over 200 members now which is great but let's just jump right into it let's not waste any time the Market's closing in literally just a and looking like Tesla will be closing at pretty much $263 on the dots which is going to be uh unfortunately a slightly red day down about 2% but pretty neutral definitely a slight underperformance compared to the market with QQ up actually a respectable 72% potentially setting up a little bit of a bow flag over here so keep that in mind definitely want to watch out for this right here this is pretty spicy which of course can be good for Tesla but looking at Tesla specifically so there's a few important things to talk about here right like three or four very very very important things to talk about first and foremost let's start off with the most obvious right let's go to the 65-minute Chart very quickly so you can see right and I said this to my members yesterday hopefully I said this in my video yesterday as well but I said how I want to see a daily candle retest of that 6 uh oh 6 260 to about 263 area on the chart and that's exactly what we got today right we came exactly down on the daily candle today right it's a fresh day to retest that area and we essentially turn old resistance into new support it was kind of close this candle was definitely a little bit spooky I'm not going to lie that was that was cutting it close but nonetheless we did get a beautiful bounce so far and looking pretty good so far the Bulls seem to still kind of hold control which is great to see so that's number one we came we broke above a resistance we came back down we retested it so far successfully and so far not too bad right the Bulls are looking still pretty decent now that's number one number two is going to be this little situation we find ourselves and let me go ahead and reduce this a bit so it doesn't look kind of awkward right but we kind of find ourselves in a situation of something like this give or take right where you know ever since uh earnings we had that massive fall so we've essentially been in this little kind of medium uh term downtrend since earnings right we fell of course came back up got rejected here fell again now we're coming back up and we're now getting rejected Again by that same line over and over and over as you can see roughly you know give or take right around this General two uh 270 is level let's just say something on the lines of that right um so you know we're getting rejected by that so that's number one and we want to break above that as a bull but as a bear you want to make sure that's defended and so far it has been defended on the flip side we also have this little medium-term uptrend line right here you can make an argument for right maybe you can make an argument for maybe this kind of situation here but it's a little bit awkward in all honesty this is more specific to the overall Channel which we'll talk about as well but you know we're in this kind of little medium kind of short to medium-term uptrend right over here actually I would argue this is a short term option which is this line right here essentially on the 65 minute chart the Bulls want to defend this and the bears want to break this so that's kind of the battle right now right which one cracks first right this is the next major step right obviously if the Bulls win naturally we break above and we come up to the major retest which is going to be not too far above again close to 280 which is going to be this red line right over here which is the overall downtrend since earning or since alltime highs all the way back here this is like the the daddy of all downtrend line for Tesla this is like the final boss like this is where you really as bull want to break above and really kind of start truly shifting that momentum into the bullish side which is going to be phenomenal to see so those are the main things I'll be personally eyeballing right now and that's kind of what I am personally paying attention to right now very very important so uh again you know you want to break above for Bulls break above this line over here which at the moment is again around 270 and while defending about you know low 26 very low 260s to high 250s as a b as a bear the flip you want to defend 270 and break below again very low 260s to very high 250s right that's the kind of battle we see right now whichever way this is going to play out obviously if it comes to the downside we'll talk about that next I think that if we break to the downside and let's say we lose that 260 259 just that General level we lose that we break below this line we'll come back down most likely to somewhere around the bottom of this overall uh massive channel that we are in right which of course is going to be an important retest once again right this is the most important channel that the Bulls don't want to lose and the bears want to break down below very very important if we do come down and if we do break down below that will be somewhere around 240 for now at least right now I I see it somewhere around 240 give or take obviously depends on when but that's going to be important to not only defend but to of course for the Bulls also get a beautiful bounce and that could be if we Bounce from there the last chance you'll get to buy the quote unquote dip this low on on Tesla in a while in my opinion of course that's just what I'm thinking right or what I'm seeing that's assuming we defend it but if we lose it then that's going to get really really bad really really uh bearish really really fast and we'll talk about that of course if it starts happening but for now we'll leave it at that again on the flip side if we break above retest this overall red trend line around close to high 270s almost 280 and that's going to be something we'll talk about as well if we break above what that'll be very bullish if we break above the red line and very bearish if we break up below the this red line on the channel over here so those are the main things to pay attention to somewhat medium term is from now the final thing I want to really M major final thing I want to talk about is going to be this so we have the squeeze meter every now and then I like to bring this up because this essentially tells you that a potential big move is on its way like a squeeze so you know like the momentum the the the pot is closed the air pressure is building and eventually it'll let loose and when it does it's going to be pretty darn aggressive right that's kind of what this squeeze meter tells me this could be a false alarm you saw we had one over here right this little one red circle but usually what it says is when there's a red circle like this and especially when there's several in a row and the more there are in a row the bigger the squeeze is and the larger the move will be once it finally picks a Direction but we have a single red circle let's see if we get one tomorrow as well tomorrow is CPI if we get one tomorrow that could be important and that could mean that a large move is building up which will be pretty poetic considering earnings is literally next week so we'll see how this develops we'll continue watching it we'll see if it continues developing red circles and if this squeeze meter is going to continue telling us that there is a squeeze building up and a lot of momentum is building up to unleash probably post earnings but we'll keep an eye on it as of course time goes on but those are in my opinion the most important things to pay attention to right now another thing to remember is the fact that you know we had that uh Head and Shoulders pattern which uh no it's over here right I did remove it but we had the left shoulder here the head here and we had the right shoulder here I personally don't really view this as being a valid Head and Shoulders pattern anymore because we broke into the territory of the head so personally to me it's looking kind of Soo um you know I don't I don't put too much more weight into that overall right so thought I'd mention that one more time if you missed it the other day on the flip side also we have the daily the macd looking pretty pretty okay right it's it's it's slowing down it's not going too crazy on the bullish side but it's still technically bullish RSI is looking very neutral nothing really too obvious there in my opinion um the weekly chart you can see over here still still going sideways like the macd is kind of interesting here because it's just not really truly showing any signs of any direction for several weeks now we've been talking about this before but it's still doing it right it's still not really picking a direction which is super duper interesting to see in my opinion we also have two red circles now on the weekly chart last week and now this week is both indicating a red circle so the weekly chart is already showing us that a squeeze is here or at least it's building and it's going to be unleashing relatively soon and I think it's true I really do believe this is going to be accurate because if we break above cuz we're getting close to a deciding factor again if we break above the red line h huge momentum to the upside if we break below this red line on the channel huge momentum to the downside and I think that's what's going to play out of this overall squeeze right here so this is going to be important this I think this month maybe early November is going to be crucial crucial crucial very very important to to truly determine where the next move and the trajectory overall of Tesla is going to be so take that for what it's worth and the final thing we'll look at very quickly before we end off this video is options see what options is saying over here right overall pretty neutral honestly more and bearish for sure but nothing too completely one-sided nothing too obvious with CPI tomorrow very there's a little bit of hesitancy I'm sure so thought I'd mention it regardless but again nothing super obvious in one specific Direction it has a 1.3 million premium in calls here 230 calls expiring uh this Friday so a little bit of a short-term gamble over there but nothing too obvious honestly but all in all that's kind of what I am seeing right now so let me know what your thing down below ladies and gentlemen if you enjoyed the video don't forget to hit that like button and as usual I of course will see you tomorrow so until then thank you for watching peace