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well the FED appeared before Congress today and he gave us some good news he said that we're not in a recession and he actually said that the economy was doing pretty good so he was optimistic and there was actually an article came out and it was circulating about how another Fed was looking at 2025 now this is not fed Jerome Paul but this was another fed that said that they were looking at ways of increasing liquidity easing in 20 25 and so I think these guys know that they have to give the market some money and they know that a strong economy is only going to move forward if the FED is lowering rates so I think we are going to get rate Cuts this year um and I think this economy is still showing a ton of strength I mentioned just the other day that Goldman Sachs said that his the chief analyst over there said that they saw at most a 10% correction which really means that this is a Market that it's worth buying the dip now what I've noticed is that everything is kind of moving in its own pace I mean we've got meta making brand new all-time highs and today Tesla crashing down to lows and so what's going to happen is that meta will cool off for a little bit in the future and have a little bit of correction and Tesla will correct and reverse and begin to make its way back up so you know this is really a stock Pickers market and today I'm going to talk to you guys about Tesla we we have to dive into that chart I've been really warning from 484 down to 460 and I said at some point at some point here in the first quarter of 2025 we're going to get a $350 Tesla and I also said at that time that if 350 didn't hold that this thing could come all the way down to 3177 well today 350 broke and it just seemed like it fell off a cliff and it's seems as if the Market's wanting very very quickly to make that fall and that dip down where it's going to find support and I do believe that investors will come back in they just wanted a better price and they knew that this didn't have legs because it had run up too fast too far in 2024 and that there was simply room from a technical standpoint for it to pull back and become more investable and so right now some big tech companies are at alltime highs Elon uh you know they had bad earnings and this thing popped and at the time I took a short play on it and I knew that this thing needed to go down uh but the next day it decided to run up but that was just an ugly Wick and the story's been that it's been in a down move ever since we finally got to the level where I had told you guys that if it came down to this level I'd be a buyer did I buy not yet why because I am getting rich holding Tesla puts right now to the downside and uh we rode Tesla puts down this morning in the stocks with Josh Discord it was one of my top trade setups where I said if the price breaks beneath 347 it's going to flush and oh baby did it flush you know being in the right place at the right time with the right alert and having some patience with your money and not overtrading can produce some of the most profitable days of the entire year a day like this and a move like this on Tesla really to be honest with you could set you up for the month or even for the quarter depending on how well you took the trade to the downside now I'm giving these trade setups and analyzing these charts for you now you don't have to go off of what I'm doing right but you can look at the technicals that I'm giving and perhaps it could give you some confidence to take the trade if you took the trade with me on Tesla I don't care what option you took you had to be up 100 % and some options would have paid you 4 to 500% or more so this was a day worth taking the trade on Tesla it was a massive massive winner but very sad to see Tesla fall this hard and fall this low and the answer to did I buy the dip on Tesla no not yet and I can tell you that based on the Move I'm seeing it's extremely oversold and I do believe that we're going to get to a reversal but I think it's it's not going to reverse like that it's going to take a little bit of time and I'm not talking weeks and months I'm talking I'm talking it's going to take a little bit of time so let's give it one or two days let me take you into the charts and show you I'm going to be showing you a chart that I showed you last week on Tesla and the support levels are the support levels that I gave last week and the outcome of this uh price move is the prediction that I made weeks ago go and so guys this is actually nothing new but I'm going to show you guys where I think we'll see a little bit of a reversal and where I think we'll see support and we're going to have to take this day by day because we need to see the buyers come in we need to see volume buyers rushing in and if we don't see volume buyers rushing in then yes we've got under 320 and we could even go under 300 okay we absolutely could so we're going to be watching this and you know it didn't turn out to be worth nibbling at 350 because the floor didn't hold we watched it very carefully and when 347 broke the floor broke the Tesla price fell hard let's go take a quick peek at the charts and it'll give us some perspective of what might be next all right we're looking at Daily candles on Tesla and been talking about the fact that the only shelf that where this had Consolidated and built any support was right here at 349 and unfortunately it cut right through 349 and we talked about that being a possibility because even though this was a support level the fact is it wasn't a massive support level now I marked on my chart this 33640 as the lower band on that support level so basically this is the top 350 was the top 336 was the bottom and you can see that we've cut beneath 336 and so the very next level of support is going to be around 324 now personally I think this thing is getting oversold and if we jump to the uh RSI chart you can see that on the daily time frame we're coming up on getting oversold right and every single time the Tesla has gotten oversold it's been worth buying because it's gone on to have a nice recovery so let's just look at that real quick so right here it got oversold and we ended up moving from 160 all the way up to 183 so it had a $20 recovery then again it got oversold on the chart and at that point we moved this was the big move from 140 all the way up to 260 right and so you can see that this is not something that gets oversold all the time and so getting to the oversold level like we're getting to right now is setting up for a reversal and so this is when you want to get a little bit more bullish you want to get bullish when stocks like Tesla that have great AI stories are getting down to where they're getting down remember this is not bad I know that some people are panicking but look at that chart right this has just had an an absolute incredible move and so stocks have to retrace a little bit and find support now in a really big picture view and I don't see this happening right now but I do want to point out that that other major levels of support would be back here at this 260 270 and that's served as resistance three times before we broke higher and moved higher now personally I believe that we're still going to see a bounce here at 324 but it doesn't mean that we won't go on to make a lower high now I've talked about this with Nvidia so let me just point it out here as well so we have this descending line of resistance right and we've actually been making a series of lower highs here for a long time and I told you guys when we were right here at 4:30 when we made a lower high that it signaled pretty strongly that we were going to come back to a minimum of 350 if not 317 or 320 well we're we're clearly there but I want to point out to you guys that you're not going to go down all the way down to the lowest historic low in a single move I think this move has gotten pretty cooked let's just um go from the top of this so previously when we had a huge selloff the move down was 23% and so if we go from the top of this Wick here we're already at 21% and so getting down to this 324 and even below that 317 which I've talked with you guys about would be a comparable move to what we could expect Tesla does when people panic sell it well last time they Panic sold it and they thought it it become too expensive it went down 23% right now it appears that people are Panic selling and it looks like it's moving down down hard and I think if we got to 324 to 3177 it's very possible that we would see a reversal there and that would be the low um now I want to be very clear with you guys doesn't just all come in one moment right uh we're not reversing at this moment okay and we have the ability to go down further and so if you want a strategy for buying this is where you can buy incrementally incrementally between that 336 and that 317 that probably would be a good place to add or to buy Tesla for the long term nothing's really changed with the Tesla story at all the fact is it just went it broke out from 260 all the way to 500 right and then we started getting earnings and we realized that the company still needs some time before it realizes it's bigger goals but one of the things I told you guys back in 2023 and 2024 is that wall Street's going to give Elon Musk the benefit of the doubt and so all that they're looking for right now is to re-evaluate the price of the stock and to get in at a better price so this is obviously a company what is going to introduce robots to the world that's going to be a company that that leads in autonomous driving in electric power there's so many areas of leadership that this company is providing and people are going to want to get in on that because there's a lot of folks like myself that believe that Tesla could be a 10 trillion doll company we're talking this stock will have stock splits in the days ahead we're talking that this stock will be a $11,000 stock again I believe that and that's why I'm incentified to buy I would tell you that we've had a major move down we're we're three percentage points away from it being completely ended right and so whether you buy a little bit each and every day between now and maybe the next couple weeks you'll get a spot where I feel that you're going to catch the majority of the bottom um now the only way this would go lower as if there was some news that would drive it lower but often times that's what happens right here when the stock is down that's when uh the news outlets and the pundits begin to kick it right just to add a little bit more fear and panic into the mix uh but personally this is what we waited for we did this with Nvidia recently when it was $148 and everybody else was buying we said you know what I told everybody I said in the first two quarters and the first quarter specifically there's going to be a moment in time in which stock prices get re-evaluated and recalculated so people can load back in and go long again we saw it with Nvidia and now we're seeing it with Tesla now other companies are going to have this draw down what type of companies am I talking about well paler now I told you guys not to sell at 102 but as we've gotten higher I would tell you that we're definitely getting frothy on palente tier and the best way of playing that is to put a stop loss in right put a tight stop loss in if you're wanting to uh have the opportunity to swing trade this some of you shouldn't swing trade this some of you should just be buying long term uh largely companies like paler I think are companies you want to hold for a decade because there is a lot of room for it to go higher it could go up to 200 if you're thinking of Swing trading it uh I told you not to swing it at 102 but now we're looking at you know 117 plus well it gets a little bit different the higher it goes similar to what's happening with Tesla I told you that we would look at buying at 350 well it didn't even spend a day at 350 it's it's got to spend a little bit of time consolidating and showing some strength or it's got to show a v-shaped recovery and remember the basic concept of trading candles and it works for investing as well you want to buy the second candle to make a new high we did that on Nvidia right and right now all we've got on the daily candles for Tesla is new candles making new lows and so we got to wait for this thing to slow down and I think two or three percentage points more and I know for some of you you're in panic mode you're like oh my gosh this is going lower Josh yes unfortunately this can go about two or 3% lower and then I think it can begin to bounce or get a vshape so we're going to be patient with it if you wanted to nibble today there's nothing wrong with that because personally I believe that we will have to go back up to at least 381 so that's our up Target for now 3 81 but we're probably going to find a floor around 320 now just like Nvidia for us to believe that the uh down move is completely over just like any company any stock chart you're looking at the price has to make a new local high well the last local high for Tesla right now was 381 okay and so we'd have to get above 381 somewhere in the range of 400 to believe that the down move is over otherwise the trend has been down on Tesla since December 17th and who told you in the second week of December who came out with a video titled it's over okay very hard video to make and of course people criticized me but the truth is as all of these big tech companies have slowly been moving towards their lows and you say well meta is not Josh yeah but it will meta will eventually pivot right it had a momentum Peak back in December even though the price has gone higher but eventually all of these will correct and all of them will present a new investment opportunity and I'm talking about Investments because you got your swing trades and you've got your Investments right and so Tesla will offer itself up as an investment opportunity here pretty soon and it's going to be showing and we need to see it consolidate around 320 and this is what we waited for and so if you're if you've never been invested in Tesla you didn't want to buy uh right beneath 500 this is when you want to consider looking longterm at Tesla over the course of this week we're very likely going to make our local low and then the range is going to be probably 317 to 390 so probably you know 310 312 all the way up to 390 that's going to be the range over the next couple quarters for Tesla that's what I see in the charts let me know guys if you're buying this dip at all if you successfully Road puts down to huge profits uh following me in the stocks with Josh Discord and I said it last Friday I said guys get into the Discord before this next week because there's going to be some really big money-making opportunities and believe it or not I was thinking of Tesla then because I saw this collapse coming and I saw this move down and I knew that if we were in the right place at the right time with a big pile of cash this was going to be a huge payday now you some of you are just overtrading you trade too much you're trying to find something two or three times a day truth be told if you sat on some cash and you took a trade like this it it prints it prints big you know we made some good money let me know in the comments if you made some money and don't sleep on the stocks with Josh Discord appreciate you joining me today Tesla will rebound and uh Tesla is a great company but we're a little bit ahead of the story on the price the price is coming to where it should have been at this point it should have been down here the last earnings it should have fallen and you know the market was just faking people out with that little pop that turned into an ugly Wick anyways and told us that this bad boy was coming down I was very very tempted to take leap puts on Tesla at the beginning of this year and uh you know it's Hey listen you know would have could have should have I do it too just like everybody else um but now we're going to be looking at leap calls but we've got to get that first candle that first daily candle to make a new high which means we need more than one green candle and right now all we're getting on Tesla is red candles and so we got to wait until we get those candles then we'll look at going long and you say what are we talking about leaps in the stocks with Josh Discord there is a channel titled leaps these are long option plays so if you're not into scalping these are long plays that you're going to buy and you're going to hold for almost a year to see them fully realize their profit now today I did a quick update on those play we're in uh we're in Nvidia we're in AMD and we're in Intel and uh a couple others I've got but they had they're doing very well Nvidia they're expensive options and they're up huge so you know right now we're moving towards earnings on Nvidia we were patient we got in at a good price and there's a lot of opportunity there for that to even go higher double the profits again you don't need to trade too much if the decis decisions you make are made at the right time in the right place and you were sitting on some cash and ready for them that's what we did and we're going to do it again thanks for joining me today peace and blessings have a wonderful day we'll talk to you later
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