hi this is kri artech with Wicked stocks bringing you your daily Tesla report for Friday November 1st 2024 let's take a look at the charts I will start with this kind of a big picture of the daily chart the did not test it but we came close to it and the day we tested it we fell back to close bearish to close negative rather on the day this is a better vision of it um and that was a new high following the August low um and in fact we even took out the July high as
I recall so uh we had new highs we closed negative on the day we came very close to testing Channel resistance big picture does allow uh longer term and by that I mean 3 to 5 weeks bearish rotation to 2147 one channel support uh now I'm not expecting it outright but I do think you can trade it you can prepare for it uh now I know we're appreciable distance from that upper 270s now but um uh if we were to push back into it it is an area to sell allowing for then bearish rotation within
3 to 5 weeks into the 210s 21471 uh what we are anticipating and this has been playing out really uh you know this week I can go back to this I think as a better image I'll get back to the other one one in a moment but um you know we put out the high on Monday uh closed negative on the day after nearly testing Channel resistance and then on Tuesday we close below this simple trend line and below the low of the high and that in itself is a sell signal so as we've been
saying we are bearish uh for the week through the week through the rest of the week into next week below 26223 uh and that is an area we've been holding to for the last few days uh we rallied back and tested it on Wednesday fell away obviously on Thursday 238.5 s remains our 1 to2 we target with yesterday Thursday's volatility we could see this over the next two to three days potentially today uh if we were to violate that is to say break or open below this Rising 1/3 Speed Line at 24719 and so if
we break or open today below 2479 I think you can anticipate 23857 intraday where we could bottom out through next week perhaps and that is the 2 to 3 we time frame not the 3 to 5 we time frame but the 2 to 3 we time frame is buying 23857 and selling 27776 and that and that even means selling short 277.49 76 does allow 21471 as a 3 to 5we possibility and if over the next few days we close below 23857 that is a clearcut objective for 21471 within 1 to 2 weeks where we could
bottom out into possibly through December trade and round up again so big picture is selling and by that I mean through November selling the upper 270s and climbing buying the mid 210s and climbing and inside of all that we have these pivot Points the most notable of which is our downside 38 Fibonacci from the August low against this week's High uh and that is 23857 remains a 1 to2 week objective below 26233 and let's just call it an intraday objective if we break or open today below 24719 where we can at 23857 bottom out through
next week round back up to 26223 within a week or two and perhaps all the way back to the 27776 formation within 2 to 3 weeks talking upside today I've got 257 9 simple 3-day descending Channel top that does offer a pivot point to the upside but only to 26223 but I think it's strong enough where you can sell it day Traders uh and then if you go short at 25709 you can hold out for 24719 you could trade inside this 10-point range really for a good part of the day you could also buy outright
24719 and hold out for 25709 pushing through 2579 does signal 26223 262 223 is the trend line once again and it is right at the low of the high which I think is 26224 so if we close today above 26223 that does reverse shortterm momentum over the following 2 to three 3 to 5 days we should then reach the 27776 channel top where we can top out once again through November and from there fall back into the mid 210s within 3 to 5 weeks if we were to close above 277 76 and the same formation
by the way in the weekly chart is 27581 so if we were to close above 27776 that does indicate a bullish continuation really through the rest of the year uh because on the weekly chart I would expect 31611 this could be a 2:3 3 to5 we move and 33574 by the end of the year within 5 to 8 weeks of closing above 2 27776 the same formation on the day daily chart would expect 33574 within 1 to two months so it's not going to happen today but I'm kind of prepping you that in the event
over the next week or two we close above 27776 no good reason to be short Tesla you want to be long Tesla through the rest of the year then anticipating um this long-term resistance at 33574 until then you can play the short side in the upper 270s and climbing uh can I say that you were given the chance on Monday I don't I'm not going to go that far it's not fair uh but we did come pretty darn close to it on Monday and we have fallen away since and in the process we closed below
the low of the high which is now represented by the trend line at 26223 uh 23857 a 1 to two we target possibly 21471 by the end of November and yes over the next 1 to two weeks 21471 expected if we close today below 23857 um please click like share subscribe check out wicks.com we put out another stock pick on Thursday and that was in and I don't know why my I I you know when we when we look at the stock picks that we're going to do my son and I actually go through about
a dozen candidates in about a 15minute zoom call and we go through all the charts and even though I cut the video two hours ago I presently forget it blanks out on me which one of the 12 we chose but you can see it all and it's very relevant we did two this week uh Cadence Design Systems I know on Tuesday um and uh oh oh um uh God the Name Escapes me anyway and another one on Thursday they they are both uh they look for 20 the the the one that we did on Thursday
is a 40% potential return uh with a Buy Signal and I give you all the conditions you can see it for free wiked stocks.com 5-day free trial daily triple Q daily spy weekly Apple etc etc you get it all so I'm going to leave it at that I'll be back Sunday afternoon with Monday's Tesla uh you have a great weekend