Technical setups for SMCI and TSLA on January 8, 2025. SMCI trades inside a day above its 4- and 8-period EMAs with a $4 ATR, with bullish targets above key resistance and bearish targets below support. TSLA shows a bearish bias as the 4- and 8-EMA crossed below price, with bullish targets above $400 and bearish targets below $395, plus a $25 daily ATR.
Chapters
Good morning, traders. It is Wednesday, January 8th at 5:46 AM. So we got a couple trade setups for you. One is SMCI and the other one is Tesla, which everybody loves. So let's go ahead and take a look. The first one we're going to look at is SMCI, Super Micro Computer. So, uh, things sold off a little bit yesterday. This is still above the 4 and the 8 exponential moving average, so this is technically right now an inside day. Uh, we're, we're still bullish. If we break below here on the, on the daily, then we might have a run down here to about 31.22. So that's the shorter time, shorter term. And then if we close above this, then really we're, um, bullish above 40. So really it's an inside day. We think things might be in a tighter range today. There's news this morning before the market opens, and then remember Friday is non-farm payroll, so I'm sure the markets are waiting for that one. Because that's usually a big move. Okay, so let's look at the 5-minute on this one. So here we've got some room to the upside, uh, like I had mentioned. On the downside, there's, there's, um, it's spread out, so there's room to make some money on both, both sides. So we're bullish above 3506. We have the pivot at 35 and then a cam here right at 3506. So we'll give it that 16th, and we need increase in volume to get through there. So 3520, 3550, 3575. $35.93. So see what I'm doing? We're using the, the fractional dollar levels, psychological levels, all the way up to these levels. $35.93 is a, is an R1 resistance. And then look at this massive prints, 1.1 million here from January 7th, $36.14. So if we can get up there, if they're still accumulating, that'll be big resistance. And so let's see what happens there. And all the way up to $37.49, I've mapped that out. And so the thing is, is the ATR on this SMCI, even though it's a $35 stock, it's about $4. So it can move. Knowing that is quite helpful. So when you map out your trades, we're bearish below $34.50. So we need to get below here, right? We've got all of this noise here, this print. We'll get below 3450 and this pre-market here, and we've got a nice trade down to 3425, 3415, 34, 3370 down here, 3344. The 50-cent level needs to be included. The 30— 3350, 3344, 3315, 3301. So I put 3315 From November, that's a 2.4 million share print, right? And we can always add prints here from the left-hand side because this adds the 10 largest in our time frame. But anyway, if there was something new we wanted to add, we could just click on it and it's added to our chart immediately, which is very exciting. Let's go ahead and look at Tesla. So here's Tesla on the daily. It's looking bearish at the moment, and so our 4 and 8 moving average here—they crossed. They're still below, and we had a print 1200K 396 yesterday, and the day before we did 250K. We're below these. Well, not at the moment. 39603. We're at 39768. So if we break down below here on the daily. We've got a downward move here, maybe $374. Now remember, the ATR on Tesla is about $25 a day, right? So you can have a wild move either side, which helps planning out like I had mentioned. Okay, and then on the upside, really for the longer term, we got to get above $410, right? We've got to close above $410 to get back up here to these prints. So let's have a look at the shorter time frame. Okay, here we go. So we've got some wider room here, which is exciting. And so let's have a look. We are bullish above 400. So we see this noise. We want to get above this here. We've got this noise in the middle. So let's get above 400. There's the pivot, right? So remember, if you watch my video on pivot points, you can check out the— you can check out our YouTube. And find that video. It's only in the last couple days that that was done. So we're bullish above $400, $401.05, $402.50, all the way up to $407.74, $409.13, $410, $415, $418.96, right? So that's actually— that gave us a $21 move on the upside. And then on the downside, we're bearish below 395. So we got to get below this 395, back to 394, 392.13, 389.90 down here, 387, 385, 381 down here. And then if we get below 381, look at this, we got a nice move down to 375, 375.23. So, all right, so happy trading everyone. Let me know how you're doing with this in the comments and I'll see you after lunch. Happy trading and we'll do our reviews then. Okay, take care.
