Stock Technical Analysis on TSLA, SPCX, PLTR, HOOD, SOFI, MSFT, IREN

[00:00:00] Speaker 1: hey guys what's up and welcome to a new tesla update video so today as usual let's go over tesla let's go over the market a bit of a crazy day in the markets today of course we had a fomc today the rates were kept unchanged but there were hints that a potential hike um there is a potential hike later on in the year and of course it was warsha's first actual fomc i guess conference in q a if you will so uh some volatility definitely came in pretty aggressively in the last you know three quarters or so of the day let's go over it i'll give you my thoughts if you enjoy don't forget to hit that like button this is not financial advice and i'm not a financial advisor but again guys if you enjoy uh you know my technical analysis updates etc chart updates and you want to hear my thoughts every single day of course as the market is open definitely check it out that link is of course down below yeah that's a picture of my car crash by the way my girlfriend was driving in a truck rammed into her uh today by the way that was crazy but nonetheless she's okay which is good but nonetheless guys jumping into it uh tesla closing day uh down two percent closing at 396 38 uh and if i didn't mention this is not financial advice i'm not a financial advisor and again if you feel free to join our membership guys starting at just three bucks a month it's all the way up to seven dollars a month which includes spacex analysis and pretty much every stock that i see that's worth updating including the mac 7s access to our discord of course as well and we do chart reviews every sunday but uh yeah crazy day uh tesla closing down two percent so what does this mean so tesla is obviously rejecting these uh daily exponential moving averages uh the last two days right after this rejection that after this uh kind of false breakout almost we'll say but honestly i still don't look at it as a false breakup because if we zoom in onto the smaller picture here let me just remove this for now so it doesn't look like a jumbled mess um there there's still two main things i'm personally looking for so yesterday we talked about how um uh how how yesterday we were developing this kind of a bear flag here right we mentioned how we had this nice little move up came down started developing this little bear flag and i wouldn't be surprised if we sweep the lows now we did actually sweep the lows right here you can see and then we did move up and then of course the second half of the day or so became a lot more volatile as we were getting closer and closer excuse me to fomc and whatnot and you know i think we know what happened after that now moving forward though again i still don't think tesla looks bad i believe it or not i know it might sound crazy i still don't think it looks that bad now again confirmation is needed so there's two ways to approach this right either you're someone that likes to buy supports and kind of cross your fingers it says you know holds or you look for strength and the strength that we've been talking about for quite some time is this upper trend line right this upper trend line needs to snap on tesla stock guys this has to snap we have to get above it we need to start closing candles above the trend line and once we can do that which again depending on when it happens because it is descending if it happens anytime really tomorrow honestly like 403 404 or higher would already be a pretty good start uh you know you're waiting for that confirmation that you know i guess better signal of strength coming into the stock ready to resume its move higher until that happens you know technically speaking we are in this almost like a downward descending channel to the downside ultimately right but i still don't view it as a bad thing necessarily because you know as far as i'm concerned this is higher lows higher higher a lower low lower high lower low lower high lower low and this could easily be a higher high into a higher low now being a kind of you know looked for and again how we decide where that higher low can potentially be formed that is you take the fibonacci from down here to up here and then you take a look at it like this so you can see pretty much all of today except for like the last hour or so we were holding the 0.5 fibonacci here at pretty much 400 or you know a knock on the door of the high 390s we discussed this yesterday fantastically it was holding exactly where it needed to for a while here until it didn't right and then of course the second we lost it we ended up flushing right down to the next target we flushed right down all the way to the sixth one a fibonacci sitting here at about 394 or so we actually did a bounce from it so far very effectively so there's two ways i'll be looking at this either a which is the stronger sign we break above this trend line right so we bounce off support we break above the trend line etc that's a good sign right again 404 plus roughly or even just breaking above back above 400 which is going to be this resistance level here because this was a resistance you can see we kind of got a small rejection here on the last hour candle even just breaking and closing on one hour candle even just above 400 can already be a you know decent sign of things so that's just you know a few ways to look at it overall but the bigger picture to me at least for now slightly bigger picture is i still view this as a higher low being looked for into a push back up into the 420s that is my current expectation still um but for the even bigger picture than that again what we're actually looking for overall on tesla is the fact that this is still a very large sort of penance right again we've been talking about this pattern for quite some time that we're just essentially replicating the exact same thing we saw last year uh pretty much around this time right around june going into july uh exactly the same thing again big move down big move down big move up big move up sideways sideways it's the same it's literally the same pattern right but this also developed what you know now in hindsight we can obviously say with ease was a big penance and we're pretty much doing the same thing again so it is worth understanding that the bigger picture this is like a multi-week type picture over here is still very much range bound this is all playing the short-term games yeah we hold the fibonacci here yeah we get a move into the 420s great you know if we actually want tesla to truly make a move like you know if we're looking for like an actual multi-day at least if not maybe a multi-week swing trade or you know position whatever you're looking for the bigger pennant breakout we're looking for this to truly snap on the much much larger picture which essentially means on tesla here that we want to break above this upper trend line right here eventually right which is going to be essentially depending on when it happens again pretty much the upper 420s guys and that's what you're still looking for on tesla on the daily and also on the weekly let me go ahead and remove this back to just this time frame right and on the weekly it's pretty much the same thing the weekly still looks fine to me uh you know again not necessarily outright bullish but definitely not bearish it's just neutral to bullish leaning because i still believe this is going to be in hindsight a nice looking pendant right here that sets up like this we just have a lot more room to fill within this pendant so we can easily still chop around here between you know the sort of 390s or so region up to even the 420s right this can still be a nice sort of 30 or so dollar region that we just continue zigzagging bouncing ping-ponging between until we finally break out whether it's below or above so it's just something to consider moving forward but again if you're looking for the bigger picture strength to resume and for us to really start making our way higher and potentially even contesting all-time highs again yeah you're looking for this to snap guys you're looking for pretty much the 430s or the very high 420s uh overall to snap options though on tesla's talk today was a bit of a little all over the place you know slightly more bearish than bullish here not a substantial amount but definitely a bit more bearish than bullish uh and towards the end of the day it was actually very mixed flow as well the issue with options flow now is the fact that because we have monday wednesday and usually friday right sometimes thursday expiration dates um it's a lot of short-term options flow which is just very misleading and honestly it doesn't really offer that much inside unless we see something crazy which again you don't see that often but every now and then i guess you do but nonetheless guys that's pretty much the way i'd be looking at tesla right now definitely want to be watching very closely to see that as long as today's low holds and especially if we can even just snap above 400 again and start closing one hour candles above 400 that already would be a pretty good sign but even better would of course be above this trend line about 403 404 guys that's what you want to be watching for into the next few days now spacex did print a bearish engulfing candle we'll see what this actually means but i'm personally looking at it more closely in this fashion right here again kind of like tesla in a sense with this trend line right again we started up here rejected here rejected here rejected here rejected pretty much here almost perfectly right on the trend line again and you're pretty much looking for this snap we have this obviously gap fill support that we're uh you know loosely holding on to with the bigger support range pretty much right around here which we did bounce off of not too long ago uh i think this was yesterday from mama's taking actually it was this morning even no sorry yeah it was this morning right we ended up taking this area that was a nice level of resistance right here at what 188 187 ish we turned it into support bounced up you know we can easily see one more quick visit maybe even a quick sweep but ultimately again kind of a similar picture to tesla stock if you're looking for strength guys you know you're looking for uh at least 15 minute candle closures above this exact same trend line right here which is going to be in my opinion even just above like 196 197 above 200 is even better uh we'll start looking much more attractive and then we can kind of you know begin our move back up higher and this could be just one big old kind of bull flaggy type situation maybe even a bullish pennant type look uh that ultimately resolves higher but again kind of like tesla until we break out of it there is still pressure to the downside that we can easily come back down to retest near the mid 180s uh before resuming higher so you know it's just important to understand however if we lose the mid 180s if that level is starting to get snapped and we start losing and closing below that at least 15 minute candles that would become a bit of a bigger problem and then we can make our way and flush back down to about the mid 170s but so far we're holding so you know the bulls remain in control at least in my opinion but definitely want to watch for those levels to continue holding or else it can get a bit uglier uh spying the queues spying the queues are coming into the 921 email supports right spike definitely closing a little bit uh a tad below but i still don't view it as anything too majorly concerning right this is just a nice pullback coming into even deeper support around here but the queues look a little bit of a cleaner picture in my opinion right the queues are looking uh yeah just way cleaner because what are the queues doing well they're pretty much closing right around the nine email still above the 21 email but also taking this region right here that was a nice level of resistance for um you know definitely like about a week or so and you know now it's trying to see if we can turn it back into a support so definitely want to watch around the 720 to the very very high 17's region as a support region to then round off off of and we continue overall higher because again take a look at the bigger picture we're still well above the weekly nine email we had that beautiful retest of it just recently and you know as far as i'm concerned as long as the weekly nine email remains intact and we continue holding well above it uh the stock looks firmly bullish to me uh or really the market i should say looks firmly bullish to me we can easily just continue resuming higher with the next target being closer to about 7.90 but for the slightly shorter term especially going into tomorrow which we have of course uh triple witching opex right normally it's on fridays but this friday of course we have juneteenth uh it got moved to thursday of course so you want to watch for that that could imply a bit more volatility can potentially kick in so just keep that in mind but overall i think in my opinion you know you're looking for this region to hold on the queues the vix got the spike that we talked about yesterday by printing that nice little hammer candle got that spike right into um right into resistance admittedly it did close a tad higher than i would have liked to see it's it is below 18.5 which is fine but i would have liked to see below 18 personally speaking so it's a little bit iffy for me here in terms of whether i'm happy or not with this vix close for the bulls um it's it's it's a tough one especially going into triple witching and opex tomorrow i'm not gonna lie the vix is a bit of a difficult read here i definitely think it needs another day or two to give us a better sense of direction it is below 18.5 which i like it's just not that much below it so it's kind of up in the air if that makes sense but something to you know definitely watch going into tomorrow it's a little perky i'm not gonna lie it does look a little perky so i i wouldn't fully discount it but i wouldn't fully rely on it to be a spike it's just it's a bit of a mixed bag here unfortunately so it's it's a difficult read i don't have a good uh read on it at least right now it is what it is pounds here yeah a lot of software stocks um are still not having a lot of fun that's number one let's just get that out of the way software stocks are still getting the the brunt end of the stick whether it's you know pounds here uh microsoft service now i'm sure adobe and um salesforce are probably faring not a whole lot better and they are not um netflix right anything that's even software related um hasn't really been doing that hot right igv surprising has been holding pretty well igv which is the index for software has actually been holding support despite a lot of these other software names making fresh lows i'm a little surprised about that so that's good for the index but specifically for software it's a bit of a problem um so for palantir the picture remains guys there's really not much to say other than watch for the mid to high 120s at support and watch for about the 140 region to the you know 138 to 142 four or so dollars give or take uh continues being resistance guys if palantir wants to wake up this needs to get back above about 140 really um that's where i think it gets much more interesting below 140 there's just nothing to talk about robin hood with an absolutely fantastic date today completely outperforming the market up i think it was closer to like 13 percent at the highs of the day or something it was pretty remarkable almost 15 actually absolutely fantastic it is coming into major resistance guys this is the place to be a little bit more careful now again i was very very bullish and i still remain firmly bullish on the name don't get me wrong but if there's a place to start warranting at least some level of caution uh we we pretty much hit it not only are we approaching a major resistance which is a major support in the past so that is number one but we're starting to get very extended on the daily right you know we're well above not only the weekly or sorry the daily non-exponential moving average by about 11 but we're also well extended even above the weekly moving averages where you can see we're just we're so far ahead of them that it's not even close right so at this point you know we'd have to drop if we go straight down to them it's about a 17 drop i don't think that would happen i think the worst case scenario is about maybe an eight to ten percent drop which will be essentially a drop back down to this support region right here uh and then we of course rally up higher as the nine uh 921 emas meet the price on the weekly you know kind of meet in the middle like this right and then we ultimately resolve higher i do still remain firmly bullish on the name i think the name is looking absolutely fantastic but it is very very very over extend this is at least my opinion not financial advice not the time where you start a fresh position if anything this is the time you take profit trim whatever the case may be and you get ready to reload the dip personally speaking i did take profit um but i'm i will happily be reloading uh or i should say aping if you will back into this name pretty much anytime it gets anywhere close to this nine email on the daily count me back in most likely unless i see something very weird but a pretty high chance that i'll be back in pretty quickly but that's the way i'd be watching for uh this name moving forward definitely some nice resistance here coming up guys around this 105 even up to 110 region but very strong support even as high as 100 per share down to about 94 95 two major levels of support that you should really keep your eyes on to then bounce from higher and overall most likely resume higher so far try to follow hood today did a pretty good job of it and then it of course rejected very aggressively printing a very ugly looking daily candle the shooting star candle so that is not what you want to be looking for from a bullish perspective but moving forward the way i'd be looking at this name uh is going to be i still don't think it looks bad yes it's an ugly candle yes we can see a tad lower tomorrow going into you know 17 or maybe even the high 16s like 16.8 16.9 but we have the bullish emus here slowly starting to curl which is fine i would love to see this get back up higher like this curl off this region just a tad below and ultimately the next step for a sofa in my opinion is starting to close candles above the low 18s 18 point you know 18 18.1 18.2 right we want to start closing candles above this range that we clearly rejected in the last two days once we can start firmly holding this low 18s region uh as support i think it's looking way better and i think a very quick move to the mid to low 19s is next above that we start talking about the 20s but that's the way i'd be looking at that name moving forward microsoft i did want to put in microsoft today because i'm sure a lot of people are wondering just what the hell is going on with microsoft this thing has seen a honestly a pretty remarkable sell-off this was a sell-off of about um i mean to the low of the day almost 20 percent in like two weeks i think this has been or something like that this has been uh 12 trading days so about two weeks right about two weeks uh 20 in two weeks on a mac 7 that's not tesla um it's pretty remarkable i'll be honest that is that is that's a lot let's just say that that's that's a lot now the thing i'll be looking for microsoft is this if there is any potential left on this name we're pretty much knocking on the door of it why is that well if we go to the weekly time frame we're at the green fibs because as far as i'm concerned and this might be a hot take who knows as far as i'm concerned this is the higher low why well we're making lower lows each time all these lower lows lower lows higher high higher low higher high this is a technically lower low but if you look at it on a much bigger picture this could be a one big higher high into one big higher low on the bigger scale right bigger picture so as far as i'm concerned this could still be searching for a higher low personally speaking i definitely want this 370s to hold if this 370s fails to hold as well uh get ready for a test of about 350s guys that's going to happen probably pretty quickly uh so yeah 350s below 370s is high chance that it's going to happen but if there's a place for the bulls to finally step in it is a place for the bulls to finally turn software around even a little bit this is it this this right here this this has to be it now it is a falling knife it is extended to the downside quite severely but it is a falling knife there is no momentum now we had this nice candle here that i talked to members about last friday which we did get the follow through but we followed through also into the resistance i told them about 400 to 405 this was a nice support here nice support here and now it turned into a resistance here we rejected and now we made that fresh lower low but i like the fact that there's a bit of a bullish divergence on the smi here which is something to watch for which is good and rather green fibonacci so there are some confluence you know factors if you will setting up over here for microsoft we just need the bulls to show any signs of life here really but you definitely want to keep your eyes peeled here guys on the mid-ish 370s iron is setting up up pretty decently i really think it can go you know it could go a little bit lower for sure to about 56 and change but this is definitely the spot to start watching for any bullish signs right now we did print a pretty ugly candle two candles in a row so let's see how it goes but i'm still looking at this as a pretty nice area of support here starting at about you know the mid 56s up to about 58 or so this is a level of support you definitely want to continue keeping your eyes on guys right this was a nice area of resistance this is nice area support now emails are still fully crossed bullish which is good any dips down here maybe tomorrow into opex as long as it holds 56 and change or higher i still think it's looking pretty decent and as far as i'm concerned this could also be a nice higher low being searched for as well with the 0.5 to fibonacci sitting around there with the 0.6 sitting at pretty much 56 so definitely an area to watch for moving into tomorrow and as long as it holds i think you can round off from here and make its way higher there's no signs of it just yet right we're still closing lower lows on each candle daily but if we can start closing any nice looking candle maybe a bullish engulfing or a candle that closes above the previous day's close at least that alone will be a pretty good sign of things to come and then from there we can get this nice little small bull flag and make our way up to the first target of about 65 66 with this gap fill up to my bigger target which will be the low 70s which on the weekly would be a nice retest of this recent or not recent but somewhat i guess recent uh highs that we set over here uh and uh yeah trendline still holding and we're still above the weekly nine email overall the chart doesn't look too bad just needs a bit more follow-through but nonetheless thanks for watching see you tomorrow peace