Well, moon gang. We have ignition both tesla and neo. Look as if they're about to skyrocket, even higher tesla appears to be gunning for a new all-time high. While neo is preparing for an official breakout in this video, i will be doing a technical breakdown of both stocks.

Where i map out the key levels of support and resistance that will be in play for the remainder of the week. But before i get into all that, i have two quick announcements for you. First, the weibo promotional deal will be ending in a couple days. So if you want four free stocks, there's a link in the description of this video and if you want a fifth free stock, there's also a link to robinhood and second in 2021.

I want to bring you even better content that you truly enjoy. I'm thinking about. Starting a series where i actively trade an account and share all those details with you and i'm also considering getting into live streaming. Basically, let me know in a comment below what you would benefit from the most i'm open to considering any ideas.

If you haven't already don't forget to join the moon gang by hitting the subscribe button and turning on the notifications, so you don't miss any of those upcoming videos and now with all that, out of the way, let's get started before we jump into the charts. I wanted to quickly share why tesla stock hit a new all-time high today, basically, it dealt with strong delivery expectations. Tesla's stock is pushing higher on people trying to figure out if it can hit its delivery target with only a few days left in the quarter. As we've been reporting over the last few weeks, tesla amps to deliver a record number of vehicles, this quarter to achieve 500 000 deliveries in 2020..

In order to achieve this milestone, tesla must deliver over 181 000 vehicles. This quarter. This would be a quarterly deliver record, but one analyst at webbush dan knives thinks it's very achievable, based on our initial analysis of demand and the delivery trajectory globally for tesla in q4. It appears that musk and co will likely handily exceed street and internal expectations.

Now i did a bit of research on why mr ives is so confident in this, and it's mainly because the demand in china has remained very strong and demand in europe has been picking up but hold on because it gets even better looking into the next few Years ives is positive on tesla's business in china. He said the following: we believe this demand dynamic will disproportionately benefit the clear eevee category leader tesla over the next few years, especially in the key china region, which we believe could represent about 40 of its ev deliveries by 2022. Given the current brisk pace of sales, this is where tesla stock could really explode. The anos believes that tesla could go from 500 000 vehicle deliveries in 2021 to 1 million global deliveries by 2022..

His price target on tesla, as of now, is 715 one of the highest on wall street. I can pretty much guarantee that if tesla were to successfully hit this achievement of one million global deliveries by 2022, the stock will be much higher than 715 dollars per share. In all honesty, the stock will most likely blow by that in the near term. If this goal of 500 000 vehicle deliveries is hit, but for now let's check out, what's going on in the charts alrighty, then tesla is closing the year out.

On a very positive note, today, it hit a new all-time high and when the market closed for the day, the stock was up 4.3 percent, which puts it just below 695 across all the major time frames. Tesla is clearly in the green and from the start of the year until right now, the stock is up almost 730 percent, absolutely phenomenal. This is the current technical situation that tesla stock is in for those of you who are new to the channel. Here's a quick recap of what's been going on in september.

It hit a relative high just above five hundred dollars, and this came after the company's five for one stock split from there. There was a sell-off and then we saw a bit of ping-ponging back and forth, which formed this triangle, which is also referred to as a bullish pennant. It gets its name because it commonly breaks upward and that's exactly what happened. Unfortunately, from october until mid-november, the stock was consolidating in a range between 400 and 460, and then it was announced that tesla would be added into the s p, 500 and from there the stock has been skyrocketing.

In fact, from the announcement until now, tesla is up an incredible 71 today was actually double good news for tesla investors. Not only did the stock hit a new all-time high, but it was also an official technical breakout of this trendline this time. Let's hope that it wasn't a fake out breakout like last time from a technical perspective, it's kind of difficult to call out the new levels of resistance, because the chart hasn't developed in this region so we'll have to let price discovery play itself out with. That being said, though, it is always useful to pay attention to the key psychological levels, so i'd recommend watching to how tesla reacts to 700 and then 750..

As of now, i am heavily favoring the bull camp because well, the chart is pretty bullish, but i do want to bring one thing to your attention. If you take a look at the rsi, you'll notice that the last relative high compared to this one, even though the stock has a greater value, the rsi doesn't, this is referred to as bearish divergence and it's commonly assigned that a future decline, or at least a Period of consolidation could be coming moving forward. The ideal situation would not only be for tesla to make a new all-time high and get above that key psychological level of 700, but we want the rsi to get above 73.5 to get rid of this bearish divergence. So we don't have another fakeout breakout, like we had on december 18th, now to get a slightly different, take on all this recent action and what might come next, let's check out the four hour chart before i jump into this chart as a quick reminder, if you're Enjoying this type of content, it would be truly appreciated if you could drop a like, because it really helps out with the youtube algorithm anyway back to tesla.

So when it was announced that tesla would be included in the s p, 500. In mid-november, all the way up until the end of november, the stock was caught in this upward channel, which is also referred to as a bear flag, and that's because they commonly break downward. That's exactly what happened with tesla and it eventually found support at 541 dollars from there. The bulls did regain control and on three separate occasions.

They try to get the stock back into this upward channel, but on the third try there was an official rejection and the stock fell and found a new higher support at 566.. Since december 10th the bull camp has been grinding it out and we're just seeing higher highs and higher lows at today's close tesla was trading just below 695 dollars, which is exactly where fund managers pushed the stock to on december 18th. So they could match their portfolios. To the s p 500.

moving forward, i am expecting some resistance at 700 past that there could be a hiccup at 725, but i believe that the main magnet will be that key psychological level of 750 personally moving forward. I will be watching those three levels of resistance and i'll also be paying attention to any divergence in the rsi. If you've been following along with my previous tesla videos, you know that i am invested in the company and my cost basis is exactly four hundred dollars. Moving forward, i would consider buying more at these supports of 608 and 660, and if that were to play out, i'm more than happy to hold all of my shares for years to come.

For now, though, let's switch over to neo in a very similar manner to tesla neil gained over four percent today, which puts the stock above 48 dollars per share over the past year. Neo is up a borderline, unbelievable one thousand one hundred percent. This is the current technical situation that neo stock is in for those of you who are new to the channel. Here's a quick recap of what's been going on.

Neostock has been on the public market for quite a few years now, but it really started picking up steam in june of this year and then it had a nice breakout in october when the rest of the ev sector was struggling at first. The relative high came at 29 and then after reaffirming this trendline neo was off to the races and absolutely exploded on november 13th, citron did come out with some bearish comments on the company, but, as you can see, it really didn't matter because, right after that, it Actually hit its all-time high of 57 and 20 cents after hitting this high neo did sell off, and support was found at 38 for the second time, and then this led to an undershoot of the support at 38, which formed this trend line and the bulls pushed Neo up to 49, which formed this top trend line and once again we have this triangle, which is referred to as a bullish pennant and that's because they break upwards. And, as you can see, it looks as if it's living up to its name, because neo is preparing to break out. As a quick point of clarification, i wouldn't say that this breakout is confirmed yet in reality, i'm waiting to see how neo reacts to the previous resistance just below 50.

If the bulls successfully passed this test, that would then set up another test of 54, which was resistance in mid-november and then past that, of course, we have the all-time high. Now i do think that the likelihood of this happening is pretty low, but if this breakout is rejected, you should know that the closest support would come at 45.3 past that we have 42.5 and then from there. There is quite a bit of demand in the region between 38 and 41. in terms of the rsi.

Unlike tesla neo has quite a bit of room to run, which makes me very confident in its ability to test this resistance of 49.4 once the stock gets there. We'll have to let the bulls and bears battle it out, so they can decide the next major league, whether that's up to 54 or back down to 45, to get a better idea of who might win this fight. Let's check out the four hour chart from the end of october, up until mid-november neostock was in this upward channel and that eventually broke down most likely because of citron's bearish comments. And then we saw the formation of this triangle after building a foundation at the 45 price level, there was a breakout and rally to the current all-time high and since then, we've essentially just seen more consolidation and the formation of this oblong triangle in white, and now We're seeing the start of a potential breakout, as you can see today, neo closed right at the bottom of this region of resistance.

The bull camp definitely has their work cut out for them, because in this region alone neil was rejected. One two three four different times now. Obviously, when it comes to the stock market, literally anything could happen, but i do think that this time will be a bit different, because the attempt is coming after a period of consolidation rather than expansion, which we saw twice before. Unfortunately, for me, unlike tesla, i am not invested in neo.

If you watch my most recent neo video, you know that i was trying to buy as close to 42 as i could and the opportunity just didn't present itself with that being said, though, i am attempting to kick 2021 off with the bang, because i bought quite A few new call options, some of them expire on january, 8th and their strike price is 48 dollars, and then i have even more for january 15 with a strike price of 55. Overall, i do think these will be pretty profitable, because neo has their neo day event on january 9th, and i think there will be quite a run-up to that event. Moving forward from a technical perspective, i would highly recommend paying attention to how neil reacts to this resistance at 49.40 and also be on the lookout for any divergence in the rsi and then from more of a fundamental perspective, make sure to pay attention to the neoday Event on january 9th and also the company will be releasing their delivery numbers sometime in early january. Personally, i am very bullish on both neo and tesla in the long and short term with that being said, though, i would love to get your thoughts on both of those stocks.

Do you agree with me, or do you think that i'm overlooking something also don't forget to? Let me know about what type of content you would like to see from this channel moving into 2021. If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join the moongig by hitting the subscribe button and turning on your notifications, all that support really helps this channel out thanks for watching and until next time. Best of luck in the markets, you.