Tesla Stock To A New All-Time High?! (+400%?? $550?? $1400??)
In this video, I explain why I think Tesla Stock will be testing $500 in the near future. On top of doing a technical analysis of Tesla's chart, I cover why one investor (Ron Baron) thinks this leading EV company will hit $2 Trillion and why another is targeting $1400 per share (Cathie Wood).
If you're a #Tesla investor ( #TeslaStock), let me know in a comment below! Happy Investing!
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In this video, I explain why I think Tesla Stock will be testing $500 in the near future. On top of doing a technical analysis of Tesla's chart, I cover why one investor (Ron Baron) thinks this leading EV company will hit $2 Trillion and why another is targeting $1400 per share (Cathie Wood).
If you're a #Tesla investor ( #TeslaStock), let me know in a comment below! Happy Investing!
๐ Join the #MoonGang: http://bit.ly/MattKohrs
๐ Trading Group: http://bit.ly/SMDTrading
โ Charting Software: http://bit.ly/TradingViewChartingSoftware
Want FREE stocks? Once you deposit money, we both get free stocks!
Checkout these brokerages:
๐ฐ Robinhood: http://bit.ly/MattKohrsRobinhood
๐ฐ Webull: http://bit.ly/MattKohrsWebull
Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS.
Let me know in the comments if there is anything I can improve on moving forward.
Thanks for Watching!
RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Performance results are hypothetical and all trades are simulated. Past performance is not necessarily indicative of future results.
Video Topics:
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What's going on moon gang, i hope you're having a wonderful day. My name is matt and in this video i will be explaining why i think tesla stock is on its way to hitting a new all-time high i'll, be doing a technical analysis of tesla's chart and i'll be laying out the key levels of support and resistance. But before i get into all that, if you're new to the channel don't forget to join the moon gang by hitting the subscribe button, my goal is to hit 5 000 subscribers by the end of this year and your help with that would be truly appreciated. It would also be awesome if you could drop a like, because it really helps me out with the youtube algorithm now, with that out of the way, let's get started before we dive into the charts, i want to quickly cover what two big time investors are saying And doing with tesla stock, i just came across this notably bullish headline tesla will soar another 400 after toured rally this year, billionaire investor ron, barron told cnbc on wednesday that tesla will become a two trillion dollar company.
He said he's focused on the business of tesla and less concerned with the short-term stock movements, legendary investor ron, baron told cnbc on wednesday that tesla will soar another four hundred percent to reach a two trillion dollar valuation. To give you a little bit of context at the time that i'm filming this video tesla has a market cap of 432 billion dollars. Baron said he expects the electric vehicle company will build more factories and have between 500 million and 800 million in sales in 10 years on just cars. He also added the batteries are just another, unbelievable business, which he is very excited about.
I found this article to be interesting for two reasons. First, i'm happy that a well-known investor such as ron barron agrees with my bullish thesis on tesla and second, he specifically calls out that tesla has had a lot of volatility and will most likely continue to have considerable gyrations in the future. If you don't feel like dealing with this, tesla is not the investment for you. Another notable and outspoken.
Tesla investor is kathy wood. She runs arkhanvest an rq which is an autonomous technology and robotics etf is heavily invested in tesla. In fact, as of october 13th, tesla is rq's number one, holding at 180 000 shares when you take the august 31st stock split into account. Arc invest, has a price target of 1400 on tesla over the next five years.
Now i obviously know that big wall street investors aren't always perfect, i mean, after all, they're humans and they make mistakes, but i do want you to know that it's not just the youtube stock community that is supportive of tesla. There is some serious money behind this company alrighty. Then this is the daily chart for tesla, which trades under the ticker tsla. When the market closed for the day on wednesday october 14th, the stock was at 461 dollars, which means it has a market cap of roughly 430 billion for those of you keeping score over the past month. It's up two percent over the past three months. It's up. 53, over the past six months, it's up 208 and from the start of 2020. Until now, it's up an incredible 448 percent, as you can see from my previous technical breakdowns from mid-august until the start of october.
Tesla stock was caught in this rising wedge, where it was consistently making higher lows and lower highs, and then, at the start of october, it was able to break out, but it did not make a higher high and was actually rejected at 449 and came down to The incredibly important support at 412 were reaffirmed if you watched any of my previous tesla videos. You know that i explained how important this line at 412 is because the stock caught itself here on multiple occasions after this failed breakout demand was found in this region. Once again, and we were able to bounce and make a new higher high relative to the previous three and now we're sitting exactly at the resistance of 462.. I see this playing out in one of two ways: if the bull camp can keep up the momentum and push the stock above this resistance, that would then set up a test of the all-time high at 502, which would be a gain of roughly 9, but on The other hand, if the stock is rejected here, that would then set up a consolidation at 448, which would be a decline of three percent, and if the pulse can't hold that line, we could come back down to this bottom trend line, which could potentially be a Drop of almost eight percent, as things currently stand, i do favor the bull case.
Tesla stock has been making higher lows and it's now about to make a new higher high. It's pretty apparent that the bears are losing the fight and i might be overly optimistic, but i think the stock could even run past 500. on the screen. Now is the relative strength index and when tesla made its all-time high, the rsi was around 82..
As of the most recent close, the rsi is sitting around 60.. So if the pass is any indication, tesla stock has quite a bit of room to run now before i switch over to the four hour chart. I want you to be aware that tesla's next earnings report is on october 21st. This event could definitely prompt some volatility so be prepared.
Now we can get a more detailed look at what's going on with tesla. This chart includes pre and post market trading, so we can see that in extended hours, tesla actually got all the way up to almost 540 dollars, as we saw before here. Is that same rising wedge? This is where the stock broke out and then came back down and retested the support at 412 and then was able to bounce and now we're sitting at the resistance at 462.. This time frame does highlight the battle.
That's currently going down between the bulls and the bears on three previous occasions. The bears ended up winning and the stock was knocked down. Now, i'm not saying that this will happen again, but the bulls definitely have their work cut out for them. If the bears don't show up here at 462, the stock will most likely rapidly run to 502, and if this doesn't play out, i could definitely see the stock consolidating around 450, which is where it was previously rejected if you're a swing trader. This is an extremely good risk to reward setup. You could cut your losses just below 448 and on the other hand, the stock could potentially run up and above 500., i'm personally, a tesla investor and my average cost basis is just below 405 dollars. This is now a profitable trade for me, because my risk is this line at 412 and i'll be considering taking some of my profits off the table at the previous high of 440 and maybe even 450. over the next couple trading days pay close attention to 462..
If the stock can get over that and hold, i feel extremely confident that we will be saying hello to 500, as things continue to develop i'll, make sure to keep you updated with the new technical levels and also keep you posted on what i decide to do With my shares of tesla, make sure you have your notifications turned on, so you don't miss any of my future videos. All in all everything that i'm seeing in tesla's stock chart has me very excited for the rest of the year. I think that there's a good chance we'll be knocking on the door of 500 in the near future. But with that being said, everything mentioned in this video and really all of my videos are my own thoughts and opinions and i'm not a financial advisor so make sure to do your own research because after all, it is your own money.
I would love to know your thoughts on tesla stock. Do you agree with me in that it's about to make a run to a new all-time high, or do you think that i'm dead wrong? Let me know in a comment below and also feel free to, post any suggestions or recommendations for what i should cover next, if you want to know more about my charting software, there's a link to a free 30-day trial in the description of this video there's also Links to the trading platforms, robinhood and weeble weeble is currently running a deal where, if you sign up and make the appropriate deposit, you could potentially win a stock. That's valued up to sixteen hundred dollars. It's never a bad deal to win a free stock.
If you enjoyed this video - and you want to support my efforts in making more there's a few things, you could do to help me out, you could drop a like leave a comment and join the moon gang by subscribing to the channel thanks for watching and, of Course best of luck in the markets. You.
New here!! Great channel!! Thanks for sharing your knowledge!
What do you think about it now at 438 close? Will it run up to 500?
A lot of my friends ridiculed me, even my wife thought it was a waste of time and resources when I wanted to go into binary and forex investment. she was never in support of this till I showed her $71,000 i received on my coinbase from Feliciafx_profit on |nstagram and finally to my bank account ๐ , now my wife asking me if we could go for a vacation.
Will Nio ever dip ๐๐คฃ๐คฃ๐คฃ
400 billion, not million!
You have a year to buy. We all have time to buy until wall street realizes they are more then a car compnay. I give wall street 1 to 2 years to figure it out
Pre-market doesn't look promising for bulls. Thanks for sharing!
In investing longterm..shoud i buy at 461 or wait for a dip??
Should i buy at 461?? Or wait for dip
Next level dude!
Tesla!! ๐๐๐๐
Itโs running to ATH
Great video thank you
LFG +400%
$550 by the end of November ๐ Gang
Great vid
Awesome!
Thoughts? Do you think Tesla is about to hit $500?