No immediate trade in TSLA; buy on swing trade if price returns to the descending trend line from the 2024 high.

Now, there were some big moves yesterday, right? So big moves yesterday we saw in names like SpaceX and Tesla on the back of comments from Elon Musk.

What I think is so amazing about this, if we look at Tesla, you look at the daily chart here. Let me get rid of that to make the chart even bigger. So, number one, I love this descending trend line.

The reason I love it is because number one, it takes the high pivot from 2024, but number two, literally every hit of this trend line has been an amazing buy level. The reason that's important is if we fall back down, let's say in the next 6 months or whenever to this trend line, I would be a buyer again.

I mean, it just is proving itself time and time again that this is the trend line to buy until proven otherwise. So, that's number one.

Now, listen, it's had an amazing rally, right? We did come up here and I want to get rid of these lines to keep my chart as clean as possible. But basically, number two, we filled a gap yesterday, but more importantly, look at yesterday's highs.

See this high from yesterday? Take this low pivot and just connect it right through. and it literally gives us that high. So today we're seeing Tesla pull back pretty sharply. In fact, almost negating that up move of 5% from yesterday.

And again, for me, is there a trade here? No. What would I do? I'd potentially short if it rallies up here. But more importantly, I would be a buyer on a swing trade level if it comes back into this level.