The first trading week of 2021 is now in the books, and it seems like every time i check on tesla it's at a new all-time high. As of now tesla stock is on a very impressive 11 day win streak, and this year alone it's already gained 25. The golden question now is: how high can this rocket ship possibly go? My name is matt and on this channel we talk about stocks trading and investing. Thus far in 2021, the ev sector has been on fire.

There have been considerable price wings, which means that there have been numerous money making opportunities with that being said today, i will specifically be focusing on tesla, if you're curious, about my thoughts on the neo day event and how neostock will react i'll post a link in The description below in this video i will be discussing what wall street is now saying about tesla. As it's approaching 900 per share, quick, spoiler alert. There is a massive division. Some think that the stock could triple while others think it's about to plummet.

After all that, i will also be doing a full technical breakdown of tesla, so we have a better idea of what to expect this upcoming trading week before we dive into all of that, though, don't forget about all that good youtube stuff if you enjoy this type Of content - and you want to stay up to date with me - you can do so by hitting the subscribe button. My goal is to hit 10 000 subscribers by the end of january, and your help with that would be truly appreciated. Also, if you want four free stocks check out the link to weeble, and if you want a fifth free stock, there's also a link to robinhood and now without further ado, let's get started hold on hold on matt. Did you just say that someone is arguing that tesla stock could triple? I surely did billionaire investor chamath polyapotia.

I practiced that name quite a bit, so i really hope that i got it right is predicting that tesla stock will triple and bitcoin will quintuple. For those of you who don't know, he is the social capital, ceo and a chairman at virgin galactic, which is a space travel company. And now you might be wondering why is he so bullish on tesla? In a recent interview, which i highly recommend that you check out, he said the big disruption that's coming is in power utilities. There are trillions of dollars of bonds of capital expenditure, a value sitting inside the energy generation infrastructure of the world that is going upside down.

When that goes, pear-shaped, tesla will double and triple again, so basically he's arguing that one day tesla will overpower the fossil fuel industry. Now, with regards to his personal investment in tesla, he said i don't understand why people are so focused on selling things at work. You're paid to stay with people who know what they're doing - and this is a guy who has consistently been one of the most important entrepreneurs in the world. So why bet against them? This last part is a pretty important question, because the bear camp has lost more than 30 billion dollars in 2020 alone, betting against tesla, as tesla stock, continues to push higher and higher and pretty much defying all expectations more wall street analysts are leaving the bear camp For the bull camp as tesla is approaching 900.

The market cap is now past 830 billion, which means that it has a higher valuation than facebook. This has caused an analyst at evercore isi to upgrade their rating on the stock to an equivalent of a hold from a cell. So what changed their heart? Are they just chasing the high, like so many other people? Basically, for the past five years, they viewed tesla to be a basic automotive company, but now they said in reality we believe tech, slash, retail investors, see tesla as two separate tech companies, one that is a market leader in electric vehicles and another offering driverless car technology. Solar power, stationary storage, battery and powertrain technologies and others.

This is the core of the ongoing tesla argument. Those people who think that tesla is fundamentally overvalued are viewing it as a basic, run-of-the-mill automaker, and the people who think that tesla stock will continue to shoot to the moon view it as a leading ev company that also dominates in autonomous technology and battery technology. As i said, the division is pretty apparent and, according to fact, sheet 12 annuals have tesla as a buy rating while 10 have it as a sell rating. One of those people who thinks that tesla stock is about to plummet is michael, bury aka christian bale aka batman for those of you who don't know michael berry, founded scion capital, and he made a lot of money when the u.s housing bubble collapsed, and it was Also captured in the movie, the big short, if you haven't seen that i would highly recommend, checking it out anyway, in december he disclosed that he was shorting tesla because of the current ridiculous price and his quote on the matter was enjoy it while it lasts.

Now i really wish that i could tell you who's going to be right months and years down the road, but i can't and really nobody can. All i know is that the ev sector is growing and it's set to become pretty big in 2025 and then it's set to become absolutely massive in 2030. tesla being the leading ev company should most likely benefit from this trend and with regards to its stock, the Bull camp has clearly been dominating and for now at least, i find it much easier to go with the flow, because it's been making me and quite a few other traders and investors a lot of money. This is tesla's daily chart and i think it's pretty funny that you know a rally starting to become very impressive when it's tough to fit on the screen.

If you were fortunate enough to catch any portion of this move, let me know by dropping a like. I really hope that your portfolio is climbing higher and higher, because that's what the moon gang is all about to close out the first trading week of the year tesla ended up gaining 7.8 percent, which puts the stock at 880. As of now, tesla has a market cap of 834 billion, and i really wouldn't be surprised if we see that one trillion dollar mark at some point in this year. Obviously tesla is very much in the green and thus far in the year.

It's up. 24.7 percent. Absolutely incredible: this is the current technical situation that tesla stock is in for those of you who are new to the channel. Here's a very quick recap of what's going on the last major all-time high came at the start of september 2020, and that was just above 500.

That came on the back of this rally from mid-august up until september, and this was because of the excitement of the company's five for one stock split from there. The stock did sell off and then it ping pong back and forth and we got the formation of this triangle, which is referred to as a bullish pennant, as its name suggests, these do commonly break upwards and that's exactly what tesla did and it ended up having A double top rejection at 462. from mid-october until the start of november tesla did sell off with the overall market and then for the next two weeks. Nothing really much was going on with the stock and then on november 16th.

It was announced that tesla would be included in the s p 500, and that was pretty much the rocket launch signal for the stock because from there at first it looked like there could be a triple top rejection at 462. But obviously that didn't happen because the stock has been mooning ever since, in fact, since the point of that announcement until now, tesla is now up 118, most recently at the end of 2020 and the start of 2021, we had a double bullish breakout. What i mean by that is not only did we get over the resistance at 695, which is where a lot of fund managers got their fill on tesla, but we also had a breakout above this middle trend line from there. The stock has been running even more and most recently we had another bullish breakout of this trendline, which is formed from the high on july 13th and then the previous all-time high at 5.02.

From mid-november up until now, tesla stock has an undeniable amount of bullish momentum. This fact alone would make me very scared to short the stock, because, time and time again the bear camp has been burned. I would like to bring the rsi to your attention, though. As of now, the rsi has a sky high value of almost 84 and the last few times that this has happened back in july september and then at a point.

In late november early december, we did see either a period of consolidation or a decline to clarify. I am in no way arguing that tesla stock is about to plummet. I really don't believe that at all, because the stock could trade sideways, which would theoretically give the rsi a chance to cool off. I just want to bring it to your attention, because if history has been any indicator of what goes on with tesla stock, a breather will be needed sooner rather than later.

In the short term, tesla stock could easily push higher just so you know there is an important fibonacci level right around 950 and, of course past that we have the key psychological level of 1000. to get to those two levels from the most recent close, the first One would be a gain of about seven percent and then to get to that magical thousand dollar mark. That would be a gain of 13. However, if this rally needs to take a break, so it can gear up for the next push higher, i would recommend paying attention to how the stock reacts to this top trend line.

If the bear cam pushes it below that, then we have the psychological level of 800 and from there we have the psychological and proven support, slash resistance around 750, which could potentially align with this middle trend line. My personal recommendation moving forward would be that if the bull camp remains in control, pay attention to 950 and that would be followed by a thousand and if the bear camp finally gains control. Watch to how the stock reacts to this trend line and past that we do have a pretty close gap fill at 815. now to get a better idea of what tesla might do over the next couple trading days.

Let's switch over to the four hour chart before we jump into this time frame. I wanted to quickly mention that the name of this charting software is training view and, if you're interested in trying it out, there's a link to a free 30-day trial. In the description of this video, okay back to tesla, so i have included pre and post market trading, which has given us a slightly different technical setup. Back here is the start of november and, as you can see, tesla stock was in this upward channel.

Until the start of december, this channel is also referred to as a bear flag and that's because they commonly break downward. This is what we saw play out with tesla, and support was eventually found at 541 dollars from there. The bull camp did regain control and on three separate occasions they tried to get back into this channel and the third attempt was an official rejection and we had a new higher low right around 566., then from roughly mid-december until the end of the month and the Start of the new year tesla stock was slowly grinding, higher and higher, and then out of nowhere, the stock absolutely exploded from the point of this technical breakout until right now, tesla is up 29, as you can now see. With this top trend line, it is a bit different than what we saw on the daily chart and it would now be intersecting right around 900, which i do find to be interesting, because that's a key psychological level.

So i believe it could act as a magnet. Whether tesla stock manages to hit this price level in the next few days or not. Please don't forget that the rsi is very much blown out in the overbought territory. Obviously, no technical indicator is perfect, but it's also better than purely guessing.

I suppose that my point is: don't chase this all-time high, if you're not yet invested in tesla, wait for a pullback and consolidation at a key level of support to hop on the train and if you are already invested, i think that's great. I wish you the best of luck and, if you're looking to take profits, make sure you're paying attention to these key areas of technical support, specifically 900 950 and then that magical level at 1. 000. Now, on more of a personal note, i do have quite a bit of long exposure to tesla, i'm invested in the company at a cost basis of 400 and as of friday, i did buy two call options on the stock.

The strike price is 920, the expiration date is january 15th, and the premium that i paid per contract was 1638 before the market closed on friday, i did end up selling one of those at 26.40, which means that i locked in a pretty nice profit of a Thousand dollars and then i'm swinging one over the weekend, and hopefully things play out for me well on monday. The fact that i'm in this position tells you that i do think that tesla could go higher. But if you're like me and starting to wonder that this chart looks a bit overextended, it's never a bad idea to lock in some of your profits, i'm a big fan of locking in half of my profits, because it allows me to make better decisions with the Second, half of my position: one of the golden rules that i've learned while trading, is that no one's ever gone broke, taking profits. Don't forget, though, that's with respect to trading in terms of investing.

I have shares at 400 and i'm planning on holding those shares for years to come now, because there's absolutely no consensus on wall street. With regards to tesla, i would love to get your thoughts on the stock in a comment below personally, from a technical perspective, the chart is starting to look a bit overextended, but with that being said, the excitement and bullish momentum is pretty much undeniable feel free to Share your thoughts on where the stock is headed to next, also as a quick reminder. If you're interested in four free stocks make sure to check out the link to weeble in the description of this video, the promotional deal will be ending on january 15th and if you want a fifth free stock, there's also a link to robinhood. If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget to join the moon game by hitting the subscribe button.

All of your support is truly appreciated. Thanks for watching and until next time best of luck in the markets, you.