📉Tesla stock has experienced a significant sell-off recently.
🧩The RSI and Fibonacci retracement levels suggest potential support and resistance levels for Tesla stock.
💰The host shares his strategy for trading Tesla and his plan to move some profits into long positions.
⚠️The overall market conditions and the performance of other tech stocks could impact Tesla's future direction.
🔮The host believes Tesla has bottomed out but acknowledges the possibility of further downside.
What are the potential support and resistance levels for Tesla stock?
—Based on the RSI and Fibonacci retracement levels, potential support for Tesla stock is around $152, while resistance is around $194.
What is the host's trading strategy for Tesla?
—The host's current strategy is to sell put options to protect against further downside and potentially buy more Tesla shares on a bounce. He also plans to move some profits into long positions.
What could impact the future direction of Tesla stock?
—The overall market conditions and the performance of other tech stocks could influence Tesla's future direction. If the market experiences a significant drop, it could drag Tesla stock down as well.
Does the host think Tesla stock has bottomed out?
—The host believes Tesla has bottomed out, but he acknowledges the possibility of further downside. He is cautious but optimistic about the potential for a bounce in the stock.
Is the host advising viewers to buy Tesla stock?
—The host does not provide specific investment advice. He shares his analysis, trading strategy, and personal opinions on Tesla stock's potential direction. Viewers should conduct their own research and consider their risk tolerance before making any investment decisions.
00:00The host introduces the topic of Tesla stock analysis and highlights the recent sell-off.
02:02He discusses the RSI and Fibonacci retracement levels to determine potential support and resistance levels for Tesla stock.
04:22The host shares his current trading strategy, including selling put options for protection and potentially buying more Tesla shares on a bounce.
06:08He mentions the potential impact of the overall market conditions and the performance of other tech stocks on Tesla's future direction.
08:22The host concludes by sharing his opinion that Tesla has bottomed out but acknowledges the possibility of further downside.
