TSLA Breaks Out – Key Upside Reversal Day

Richard Moglen
Richard Moglen

Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue

Market Trend Status
Trend: 2 of 4 UP
✗ 10 EMA ✗ 21 EMA ✓ 50 SMA ✓ 200 SMA

Market Action

Strong upside reversal today. Decent action from growth names. Some names showing significant RS. Don’t get too negative, keep tracking RS. and likely worth to be putting on a few test trades to gauge market feedback.

Semis are still not acting great but we have MU earnings tomorrow which could be a good tell.

QQQ
Oops reversal closing jsut below the key level. Today's lows are key to hold.
IWM
Gap down and slight bounce off the 21ema. Weaker than the QQQ
IBIT
Positive expectation breaker. Below the recent range low and the MAs

Trends 2/4 Up – based on the QQQ

Shortest – 10 Day EMA –   Below
Short-term – 21 ema – Below
Intermediate term – 50 sma – Above
Longterm – 200 sma – Up – Above Rising

Current View: Developing Uptrend (Under Pressure)

Groups/Sectors

Deepvue Theme Tracker
Software, AI, Bitcoin miners strong action
Deepvue Leaders Heatmap
S&P Heatmap
Oil and Gas hit. Software reasonably good

Leadership Stocks & Analysis

TSLA
The Market Leader Currently. Strong action holding the base pivot
GOOG
Still pulling back around the 21ema area
AAPL
No follow through lower after yesterday's downside reversal. Below the 21ema
META
Range breakout
AMZN
Tight consolidation day
INTC
Still pulling in. Tightish day today
PLTR
Strong action in this range below the prior base pivot.
NVDA
2 tight days after the reversal down. No follow through lower so far. Expecting expansion tomorrow
MU
Slight move lower ahead of earnings tomorrow. Key to watch for AI theme
BE
Upside reversal at the key level
LLY
Continues to act well
AVGO
Not much follow through lower after intense distribution
FSLR
Holding the 50sma. Testing the 21ema

Key Moves

TLRY
Strong Oops Reversal. Weed Theme
LMND
Positive Expectation breaker and HVC reclaim
TVTX
Oops reversal and range breakout

Setups and Watchlist

CSIQ
Watching for a range breakout off the 50sma
HCC
Watching for a consolidation breakout
JAZZ
watching for an HVC reclaim
WVE
Watching for a post gap range breakout
ZYME
Watching for a range breakout
MDB
Actionable on oops reversal. Watching for follow through
GEV
Watching for a range breakout and bounce off the base pivot
SYM
Watching for the big weekly level reclaim
TXG
Watching for a push higher from this oversold range
WRBY
Recent AI Glasses catalyst. Watching for a U turn higher
PL
Undercut and reclaim of the HVC. Watching for follow through higher
CRS
Watching for a consolidation breakout
NXT
Solar names look coiled. Watching for a range breakout
BBNX
Diabetes device company. More speculative. Watching for a range breakout
TER
Watching for a bounce off the level & 21ema area. Good gauge for semis
NTRA
Very tight day. Watching for a push off the 21ema area

Watchlist & Themes

Larger Watchlist/ RS List

CSIQ HCC JAZZ WVE ZYME MDB GEV SYM TXG WRBY PL CRS NXT BBNX TER NTRA PLTR FSLR

Daily Focus List

GEV FSLR NTRA WRBY

Universe List

AAPL ALAB AMD AMZN APLD ARM BABA BE BKKT CCJ CLSK CRDO CRS DELL FIX FLS FSLR GGAL GOOG GOOGL GRAL HOOD HUT INSM INTC LEU LMND MELI META MSFT MU NBIS NET NIO NVDA OPEN PATH PLTR QCOM RGTI RKLB RMBS SHOP SNDK SNOW SOUN STNG STRL STUB TAC TEM TER TWLO VRT MDGL RIVN SEDG TDC VCYT U QLYS NXT DDOG METC TXG ASTS CRWD FLY CSIQ RDDT ANF BTU FROG LRCX LUMN REAL UPWK VICR SANM INOD GSAT JAZZ APPN COLL ESTA SMTC DOCN TSLA DY GEV WGS AMTM EGO KSS FLNC CIFR AEIS BKV LSCC EOSE PL TVTX PARR SEI LLY HCC CLS TTAN HOUS RGEN MDB GEMI YOU HNGE TARS COCO GH NTRA

Recent Gaps

AKAM AMD AMGN AMZN ANF APPN BBAI BE CAH COHR CRS DDOG DOCN DY EXPE FLS FROG GCT GGAL GH GTX HAE HCC ILMN INTC ISRG LC LMND MEDP NET OPEN PAM PBF PEGA PGNY PLNT QCOM QLYS RDDT RIVN ROK SANM SITM SLDP TDC TWLO TXG U VCYT VIAV VICR VIST XMTR YPF AEO FROG CRDO MDB CRDO AEO PATH PL PLAB MSOS TLRY

Additional Thoughts

Decent action today overall with some key lows in place. Solar theme coiled. MU earnings tomorrow will be a good tell for the semi/AI theme.

Recent Trade Lab Reports

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