Published: Aug 28, 2024
Duration: 00:08:05
Category: People & Blogs
Trending searches: nvda news
what's up Tesla family it's Ray J back with another video and in this I want to break down what's happening with Tesla spy the overall Market talk about some very important levels and please note that I am not a financial planner so take nothing I say as Financial advice and don't forget to smash the like button anyways for the markets I just want to mention that Tesla got a very very nice pump today alongside the broader markets as we saw spy push towards not too far from all-time highs uh but the thing that's worth mentioning is the fact that resistance has been very tough at the current level we're at and now the question is what kind of reaction are we going to get so I'll talk about that in just a minute I do want to mention that Tesla got some good uh ratings from these analysts like Blair they came out they said that Tesla is giving Apple uh esque Vibes so that's actually a good sign for us and we're starting to see some more buy ratings coming out there wasn't a price Target that was given by these analysts but they're saying that Tesla's once again a nice buy at these levels they're talking about why the energy storage business is a very very underappreciated asset for the company and it makes them very very bullish for its long term so that's a good piece of news that came out from these analysts right over here um on top of all this I want to mention that um you know we we're about to have our bill auctions come out so might cause a little bit of volatility besides that there's not really a whole lot else coming out for data for the rest of the day but don't forget tomorrow we have the pce data reports that's also going to be very important so what do I see for the markets what do I see for Tesla I tried to adjust the charts a little bit and it looks to me like we actually have this resistance right here uh that's now acting as our tough area Tesla attempted to break through this only to reject a bit so we went up to about 2115 we were not able to hold above 212 which was the bare minimum for me to see this thing bounce which is a sign of weakness now Tesla's not necessarily rejecting or like uh dumping or anything like that it's kind of shuffling near this 210 area and I think we're going to likely continue to do that for quite some time but to turn back up I want to see it try to break past 212 uh look at support at 208 and a breakdown Tesla is just shuffling it's very flat and that's because we kind of lack uh necessary volume to really get this to move and we're kind of flat so if you look at the way we moved today we pumped then we dumped and we've been just consolidating since uh we got to try to reclaim at least 210 if not 212 if not red risking to 208 and 205 so I think that Tesla may continue to shuffle in this area could decline a little bit and we'll just have to be very very patient nonetheless um but I said before we have this tough resistance on Tesla we have a possible wedge that could be developing this could be a bigger wedge so if Tesla were to dip a little bit lower we we'll see if we eventually trying to break out of this we haven't done it yet so we have to give this some more time as resistance is kind of tough now for spy on the other hand I am seeing a lot of strength but there is one issue um despite the fact that we're making a full-on v-shaped recovery the issue is we have this tough resist resistance at 563 if we do break that looking for 56 4.6 if not we're just going to continue to shuffle but just notice that we have a lot of rejections we have one two three rejections that happen at 563 and historically between 562 and 563 spy has gone in these rejections many many times so you want to be very very careful here we still have this range between 563 and 565 spy tends to reject historically every time that happened so far uh and then every time we hit 555 to 558 we do see spy getting bought back up so for now we're looking at this tough resistance we'll have to see if spy reacts to this if we don't break through this we could be retracing back down closer to 560 so we'll be watch to see if we could break above 563 or not if we fail to do so there could be a small retracement so I'll be watching that very carefully for ES we went up to about 5650 now notice that this is also tough resistance every time we hit the 5650 Zone we do tend to reject around these areas even like right here we're kind of struggling to hold above it so you can see how that's a tough resistance but as long as we're above 5625 we're going to be fine on ES we still favor the upper end of this range so watch support at 5625 5600 so far we're favoring a nice move for others out there like Nvidia Nvidia got this huge jump yesterday all the way down to excuse me uh 115 then we push back up to this 122 area and we're kind of flat right now we're still down only 3% which which is not that bad for NVIDIA standards we know this thing can move easily 5 10 to 10% % on given days so in my opinion we dumped down 7% yesterday we bought back up a little bit today we're only down 3% and we have 122 as our resistance Zone our support zone is going to be at 117 I think we're just going to shuffle between this area for a couple of days I think N Video is going to be stuck for the time being for Bitcoin we're back in the green we did dip quite a bit only to rebound so I was talking about this in the morning we're going to be looking at resistance at about 61,000 200 if we break that then we're going back up to this imbalance towards 62,000 rejector will be tipping so so far we're doing a good job at holding up for NQ we we're pushing quite nicely we have this tough resistance around 19,700 keep in mind the last two times we hit this we did reject and our support's at 19,000 uh sorry our support is at let me double check this 19,500 I was correct so 19,500 we're stuck between 19,000 and 500 between there 19,700 we're going to shuffle whichever we break will determine the bigger move otherwise we just range bound QQ made a nice move to the upside approaching this resistance around 477 the level we called out if that breaks our next Target is going to be this 480 area and support happens to be at 475 so we'll see if this could hold up I think that we pushed very nicely but resistance is kind of tough in this 477 area so we'll see if we return to 475 if we Shuffle so give it some time for Apple we're continuing to break out I called out it's 233 in my video in the morning and as you guys can see we're approaching this nice imbalance up here so I think that we came very close to my uh 233 Target it's acting as resistance watch support at this 232 area if that does not hold us I think we could be dipping back down to 231 flat so I'll be watching to see if we end up getting a little dip back down to those levels so be very careful and very mindful of that for the iwm we're like I said we're we're back up to the 220 I said If We Hold this trend line look for 220 also 221 if we lose this we're going to be dipping back down to 216 so we're doing a good job at holding up for coinbase coinbase is trying to push we're going to be looking for basically 198 as our resistance and then we have support down here around uh 192 so we're favoring upside for 197 we could be pushing a little bit higher for that um for others out there such as Amazon we got a nice balance we're going to be looking for 174.50 is resistance resistance if that breaks we're going up to about 177 if we don't break 1 74.5 we tip back down so look for a little bit a little bit more of a push on matter we called out 524 that's where we went to If We Hold above this we're looking for 530 if not we could be dipping to 520 so we're kind of shuffling around there Microsoft is trying to push for 422 if you're reject we're looking for 415 and Google is still shuffling at 166 it's still kind of stuck so give this some time that being said uh the market is doing a good job at holding up but just note that resistance is going to be kind of tough on spy and if spy and Kiku do get a small rejection of course Tesla is going to be impacted as well so with that being said I thank you all so much for listening we're going to be looking for this resistance at 212 for Tesla we're just shuffling around this 210 area we have this resistance right over here in this Zone which is what's kind of like slowing Tesla down but so far it's showing some good signs of life and we'll hope that we get some kind of breakout so we'll give this the time it needs I thank you all so much for listening please have a great day and let's see how well Tesla holds up we may continue to shuffle for now but then we'll give it all the time it needs have a great day guys I'll see you guys very soon in a couple of hours and peace out