Tesla: Top Big Tech Pick on Technical Breakout

2 months ago

Josh

"And then number three, shockingly, and I know it's hard to understand why Tesla would have such a high PSMV score and be in the number three spot of big tech for bullishness, but if you really take a step back and you look at that global chart from 2024, we are still clearly on a weak overweek uptrend. This is actually a very shallow pullback on a clearly defined uptrend. And so don't get too bearish and don't try to guess when a stock's going to roll over because you might find that it's not rolling over. And that if you took a step back and looked at the big picture view, this was actually a buying opportunity. And since we did not close beneath 390, we held up very well. As long as we go into Monday and Tuesday of next week holding above 400, I'm going to get increasingly bullish on Tesla. And then number four is Nvidia."

The speaker highlights Tesla's technical strength, noting that despite a shallow pullback and a close above 390, the stock is poised for a bullish move if it holds above 400 early next week. This is positioned as a buying opportunity based on the stock's robust chart formation.

Related Stocks