Tesla's technical bounce is losing momentum; holding 360 is required for further upside, otherwise a decline is expected.

Elsewhere, Tesla, ticker TSLA, is gearing up for the debut of the Roadster highperformance vehicle that comes on October 1st, which Musk has said would have guaranteed excitement.

Look out. Tesla also began taking reservations for the Roadster again ahead of the launch, charging prospective buyers 50 grand to make their reservation.

Last week, the billionaire also fueled speculation of a possible merger between Tesla and commercial spaceflight company SpaceX during an appearance on the All-In podcast, citing deep collaboration between Tesla and SpaceX.

There was Tesla. Tesla got mentioned here by Wellness Matters. That actually does look strong here today. Here's what Tesla looks like on the daily. Uh it is up 2% today. And if we look inside, uh this is what Tesla's looking at.

So I know we just talked about not buying any breakouts. Tesla's trying actually looks like it's trying to go towards 374. That was going to be your high from Thursday.

It looks like this bounce off of 300 that happened back in July is just it just seems like it's running out of momentum. You know, like when a ball bounces from a very high building, it just uh and as it each consecutive bounce has a lower high.

Yeah. Right. And this just looks like this is just, you know, it already reached that crest of the bounce and now it's coming back in. So for me, I I'd want to see if I if I'm looking for this to go higher, I want uh 360 to hold.

I think that's where I would uh want to see the price uh you know, find support. It's a previous resistance level. We broke out of it. We've been uh you know kind of trading around it for the past uh couple of weeks, but I would want to see a move away from that at this point.

Uh but if we come back in, I think we're going to want to see 360s support. And if we don't get that, then and I think we're going to see that uh ball come down for another bounce.

And then while that was happening, I also saw a whole bunch of calls go in some of the bigger tech names. So Intel, Tesla, uh MSTR, Meta. I'm also seeing some here in uh Nvidia, Dell.

So some of the tech names early call buying in some of those.

speaking of uh out of the straight up out of the gate, Tesla also straight up out of the gate here. Uh now, when it comes to Tesla, they usually have, you know, the initial move out of the gate, which could be either direction.

And then once we've got that, they it usually reverses and goes the complete opposite way, giving everything back, sometimes uh you know, even going further, uh than the the open.

So, uh just keep that in mind with Tesla here. We could see this uh uh sell off, come back in, and then it just turns around and goes back up to where it's printing now.

Uh Tesla here still strong.

Uh Nquille is saying Tesla did its think bounce from SE. >> I think what you're saying did it do its like you know pop and then reversal. It looks like it kind of did here. Uh it didn't, you know, make new lows, but it uh certainly popped up to 7 uh I'm sorry, 37651.

Very next candle, that thing dropped right back down to 730. I'm sorry, 7 uh 372. These numbers are just messing with me today. 372. So, it looks like we did get that uh pop and drop that we were talking about here, but the market is just strong this morning.

And it's like, nah, it's good for Tesla. Let's just buy this thing back up and higher. We are going right now challenging the uh session highs we made out of the gate here. >> It's on the back of some Q strength there. Here's Tesla. Let me go to that real quick.

Um Tesla 7 37815 is the high that I've got here. It's still holding above VWAP uh ever since we uh the price recaptured it uh around 9:45 this morning about uh 15 minutes ago. So, as long as we continue to hold above that, it could still press higher.

But if we lose VWAP, I think that's going to be the signal that we're coming in some more.

Tesla looks like that's coming back up to the highs.

Tesla with the pull now beneath VWAP. Tesla, as you just mentioned, pulling back.

All good. Meta, Tesla, Google says Parker's Thinker Swim indicators. Those have been uh some pretty good large tech movers here today. Tesla actually might be setting up for another move higher here.

Tesla, more calls. Here we go. I just said Tesla might make another move towards the highs. Lo and behold, here it is. And there's call buying on the back of it.

Tesla might snap this. A little bit of a trend line here with some of these highs we've been putting in this morning. That means we could see 380 here.