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Hi, this is Kerry Arteche with Wicked Stocks bringing you your daily Tesla report for Friday, May 8th, 2026. Let's take a look at the charts. I'll start with the big picture, as always, work our way into the day itself. It was the testing of the targeted 345.29 one-year channel bottom over a month ago that then indicated likely upward continuation.
Testing channel support, we have been for the last month and a week today anticipating as a two to three month upside objective 439.92, which is where the sell signal occurred several months ago that anticipated 345.29. We could trade inside of this channel band for the next few months, perhaps. And now that it looks like we're going to close today, the week itself, above 392.66, this descending channel top, we should see 439.92 over the next two to three weeks.
Let's jump to the daily chart and take a look at 418.04 today. May contain daily highs. Although this buy signal, this fresh buy signal, may well yield 439.92 pretty quickly because it's been holding. It kind of gets wound up like a like a like a coil, you know, a spring that coils up. I don't want to overdramatize it.
I don't necessarily think we'll see 439.92 by the end of next week, but I wouldn't be surprised. And so I'm just telling you to exercise a little caution if you decide to sell that 50% upside retracement. I think it can be sold as a day trader, and yes, even as a three to five day swing trader, we could fall away from here back into, well, next week that 392.66 channel top will drop another five or six points into the 386-387 area.
So that's where it's going to be all of next week. I don't have the exact number, but it's more in the upper 380s rather than the low 390s. And so, uh testing 41804, we can within 3 to 5 days perhaps fall back into uh the upper 380s. Now, closing above 41804 is considered uh an eventuality and it may well happen today.
And if it does, you can see here on this chart that we're just another 3 to 5 days away from reaching 43992. So, if you've yet to go long, uh you know, and you're looking to go long, I think your next uh long entry on a 3 to 5 day basis, mind you, is a settlement today above 41804 and then 43992 likely by the end of next week.
43992 is a structure that can continue to contain monthly buying pressures. We could top out here through May into June and even fall away again. As I've been saying, we could trade inside of this for the next few months. If over the next few weeks we do close above 439.92, that does set up the 540s.
There's a 6-year long-term channel top not shown on this newsletter um that I would expect within another 3 to 5 months of closing above 439.92. So, if over the next week or two we close above 439.92, I'm expecting new all-time highs in Tesla by the end of the year, probably by the end of the third quarter.
There's just There's a long-term channel top at 540. If you've been a follower of the Daily Tesla report uh for more than 4 or 5 months, you know, we haven't shown it in about a month or two uh because we've been down in this low zone, so to speak. Um let's get back to kind of um you know, the day itself.
Uh 392.66 working our way down. It is yesterday's low that is at uh 40212 that I see as our downward pivot point. Uh if we break 40212 today, 392.66 is in reach where we can bottom out for the day. Should you bottom pick 392.66 as a two-to-three-day two-to-three-week swing trade to the upside at 439 12?
I think you can. I think you can. I I think you obviously if you buy 392 66 today, you want to see the market rebound to some extent as we come into the closing bell. Also note that if you buy 392.66 today, it drops into the 386 387 handle next week. So you need to be willing to endure a continued testing of this formation perhaps under that scenario next week in the 386 383 387 handle.
So that is a should I go long over the weekend if I'm allowed to buy 392.66 today and that would obviously be on weakness. I think the answer is yes, but preferably we have a decent rebound into the closing bell. If you're finding value in this analysis, it's only a glimpse of what we offer. Your real trading edge starts at wickedstocks.com.
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But it doesn't look like we're going to do that in my opinion. We are above the high from about a month ago right now. I forget exactly. That is No, that is the 409.28, right? Let me comb through some of these charts. Do I show it anywhere? I do not, regrettably. No. I think this high here is the 409.28 if memory serves, and we are above that now.
So, once again, closing above 418.04, 3 to 5-day buy signal to 439.92 are targeted resistance we've had as an objective now for the last roughly month and a half, and now likely to be realized next 2 to 3 weeks, assuming we close today above 392.66. If we close today below 392.66, that doesn't look good.
I do think then by the end of next week, we can test 368.23. So, if you're looking for There's two 3 to 5-day short plays right now. One is, as I've already described, at 418.04. That though is in the face of a new buy signal above 392.66. So, odds favor that you would probably lose money if you sell 418.04.
You might get some downside. I just don't know if you'd see it all the way back into the upper 380s by the end of next week. There is an upward momentum right now and an updraft that is pushing this market with a settlement today above 392.66. So, if you do sell 418.04, maintain a relatively tight tight stop loss, and maybe even that stop loss will reverse you from short to long because then you're anticipating 439.92 within another 3 to 5 days.
If we close below 392.66 today, that is a 3 to 5-day sell signal to 368.23. We could bottom out here for a day, possibly into later week. It's also our downward pivot point for fully clarifying a retest of 345.29. If we do close today below 392.66, you must allow 345.29 within 2 or 3 weeks and if we then close below 368.23, you must then expect 345.29 where we can bottom out into the third quarter even through the rest of the year as I've been saying and above which 439.92 has remained a 2 to 3 month objective now probably narrowed to within 2 to 3 weeks assuming we close today the week itself above 392.66.
My goodness, there you have it. Um, stock pick, what did we do on Thursday? This is where I forget. My memory just goes. I don't know why. As soon as I'm done recording, I will remember it. It's always the way it is. Um, so I'm just going to leave it at that. We did two stock picks by the way this week.
You can check them out. They're still very relevant. You can see your daily Nvidia, Q, Spy, weekly Apple stock, etc. etc. etc. All for free by going to wickedstocks.com and taking advantage of our two week free trial. I'm going to leave it at that for Friday's Tesla report. I'll be back Sunday afternoon with Monday's and you have a great weekend.
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