#TSLA RECLAIMED KEY SUPPORT — $437 NEXT, $450 SOON #Tesla #daytrading

Added: 2026-05-22

[00:00:00]We're in the midst of a sell-off that was neutralized to some extent. Well, there's a couple of things at play here.

[00:00:06]One is the testing of our targeted rising channel bottom at 405.56.

[00:00:11]We broke it decisively, but we did come back and close above this channel structure. And so, it is a settlement-based approach. Continued daily settlements above 405.56 will keep that low 450s up here over the next couple of weeks. Uh we don't have a buy signal per se, but this is a rising almost 2-month channel bottom 405.56.

[00:00:31]Over the next 2 to 3 weeks, the market's emphasis remains one of recovery. I've got two intraday resistance levels.

[00:00:37]retracement may contain intraday highs today. This is a day-tradable level. Selling 423.52 perhaps and buying 405.56 back. I would rather have you go long at 405.56 and take profits at 423.52 because after yesterday's reversal, we closed above the high of the low. We gapped above the high of the low from Tuesday, and we proceeded to continue north until we close below it. One, if you're a 2 to 3-week swing trader, be long or out of the market altogether because above 405.56, the 440s, 450s likely again over the next couple of weeks. If we close today above 423.52, 437.10 is likely tomorrow. And that once again is just an intraday resistance. Pushing our opening above 423.52 could yield 437.10 intraday, but the likelihood is a settlement today above 23.52 indicates 37.10 tomorrow, Friday, where we could top out for a good part of the day. And if settled above, then it's Monday, Tuesday of next week. We retest that significant longer-term resistance area in the low 450s, where we could top out through June and fall away, as I say, into the 340s and climbing over the following couple of months. I think that covers the upside. The downside, I've beefed up the 381 area because you have two things. You've got 381.49, which is that descending channel top.

[00:01:58]That held nicely for 3 weeks in a row, if you recall. It can contain weekly selling pressures. It's also consistent with a 5/8 downside Fibonacci now from that April low against the more recent May high. So, the reason I'm beefing this up is because I'm not comfortable playing the short side of the market on a 2 to 3 week basis on weakness unless we close below 38149.

[00:02:19]What I'm seeing now is if we close below 40556, yes, you have a 3 to 5 day swing trade down to 38149, but that is an area where you should cover a short position on a 3 to 5 day swing trade basis. And yes, I think you can pursue this on the long side as we move through June. From 38149, we can round up into the 450s within about 3 to 5 weeks. Closing below 38149 within a week, two at the most, 34997 is likely, can continue to contain selling through the third quarter. And from here, we can round up again to this channel bottom at 44460. We could trade inside of this band next few months.

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