Google Lawsuit, Tesla China Launch & Beyond Meat Pork Sausage

hey everybody welcome back to the channel in today’s video I’m gonna share with you three news stories that are going to impact your trading moving into tomorrow’s market open so with that let’s begin all right right off the top we’re talking Tesla news today Elon Musk was on site in Shanghai China where they released their first model three sedans to the public this is huge because this was a program they launched only one year ago and it’s happening now in addition Elan musk announced the model Y program in China and he feels the model Y is going to outperform all other models that Tesla makes combined in China and finally wrapping up this news story Elon Musk also announced that they’re going to open an engineering Center in China and they plan to produce a future model for Tesla at this site for a global market so with that news let’s jump into the charts and let’s see how that’s gonna affect your trades moving into tomorrow all right I have Tesla up here on the daily chart and oh my goodness so breaking in and looking at this chart my first reaction is it has skyrocketed it is extremely overbought would I buy this absolutely not so being that I could just move on to the next stock and everybody could say but why did you bring up test if you’re not going to talk about possible entry opportunities so I’m gonna dive back in we’re gonna dissect a little bit more so you can get a little more value from this what I do want to present is these lines I’m gonna just draw some sort of support lines based off not so random points we’ve got this point at this point at this point here and then I extended that across and you can see that there’s I’ve been a touch here as well so I’m actually gonna kind of draw a range so between these two lines is a support point possible support point another area I want to focus on is this pullback and I’m gonna zoom in a little this red candle here and this pullback so I’m just gonna put a line there so right now looking at Tesla me personally if I wanted to buy Tesla I would not be buying it unless I see a bounce or a dip and there’s another line there so if Tesla were to pull back here to the 435 area that could be the first area of interest for me but it’s just a tiny pullback that’s not very big now again this is technical training this is using technical lines some people might be jumping into Tesla right now because they think it’s gonna go to a thousand and that might happen but for technical traders like us who don’t like to buy high who looks for good deals the first pullback point would be here the support point at 435 not saying to buy they’re just saying it’s a support point the next one would be right in here around the 405 area so we pointed out the 435 the 405 and then we’ve got this range down here which would be our third tertiary point it’s a kind of a big word huh between 372 and 360 there’s about a 12 dollar sort of supply zone in here and remember that zone is based off of some historical points going way way back here and let’s look and see going back as far as June 12 28 een then another one around August of 2018 and then in December early December before we sold off there were three touches up in this area and then there were some mini touches another one here another one there so you could technically say about five significant touches in that level and then it broke above then you got a sixth touch here a seventh touch here and then a break so this seems to be like the strongest level moving forward as far as support goes anywhere between that 365 370 and right around 360 so from there though as we move forward we got a touch a bounce and a go so we’ve got another sort of semi support level here and then one here so right now I’m not buying Tesla I’m gonna wait if I wanted to sell a naked put or a put spread or by Tesla stock I would either do it at the 435 area at the 405 area or at this range between 370 ish and 360 ish that zone there so that is your breakdown for Tesla going into tomorrow all right now we’re moving on to Google so knows who provides home wireless audio is suing Google in a Los Angeles federal court today claiming patent infringement for allegedly violating five different patents based on their multi room home audio they’re claiming that Google misused these patents in more than a dozen home products including Google home Google home Mac’s and their pixel line this suit was filed on December 7th and it’s seeking damages injunctive relief and attorneys fees so with that information let’s look at Google and let’s see how it’s gonna affect your trading tomorrow all right we got another one that is skyrocketing ticker goog L we’re looking at Google you can see it’s at 1403 and $0.50 absolutely skyrocketing if i zoom out on our daily chart you can see it broke above the 200-day simple moving average back in July and it’s just kind of been on a crazy uptrend ever since and it’s just been accelerating really quickly to the upside now similar to the last stock we talked about Tesla I do want to draw a couple lines because when I look at this daily chart a couple things stand out to me and I want to show you how I do this see this peak here and do you see this peak here those just grab the eyes right away so what I’ll do is I’ll immediately draw a line there so that will correspond with this touch and this touch but then if you come forward over here you can see it touched here and pulled back as well these aren’t coincidences people trade these technical levels not everyone is a technical trader but enough are that it makes a difference and you can see a bounce here a break here another bounce there a bounce here a bounce there so it’s respecting that line so that seems like a significant support or resistance area so I’m gonna mark that and then what I see here is this top pull back and then back to it with another break and a pull back so I’m gonna just draw another line here and you’ll see kind of a coincidence right like here here and then another bounce here so it’s a little simpler with Google just looking at technical levels obviously you want to look at your fundamentals and understand you know what is there cash to debt are they making money are innovating you have to have your own bias but as far as technical levels go I kind of like this 12 87 or 1333 those are two significant levels in my mind so I’m not gonna be buying or selling any puts on Google right now until I get a pullback in this range near this line at the 1333 or if we get a pullback back into this range around the 1287 now remember these are just recommendations on where the technicals levels are not to tell you to buy or sell anything so this is your report for your trading tomorrow on Google and for our odd-man-out we’re gonna focus on beyond meat to bring up our final story today so beyond me is rallying today after impossible foods highlighted their innovation so possible Foods is saying that their speed to market with their beyond meat products is rapidly improving they think this is mostly due to the doubling of their research and development team CEO Pat Brown says that they’re currently working on additional sources of alternative meats for their terrestrial animals shrimp and fish and just to get people fired up even more yesterday they tipped off that they will soon have imitation ground pork as well as sausage coming within the next month and this is likely what’s driving the seven and a half percent pop in stock price today so with that let’s jump into the chart all right we have B Y in D up on the daily chart now you can see this is a very different chart than Google or Tesla you can see right here we’ve been sort of trickling doing nothing big crash from the highs of 239 this was the wild time last summer this was Wild West fake meat classic going on right here then big sell-off all the way down and then nothing forever nothing’s been happening not attractive nothing’s going on no volatility and them own today pork sausage big spike who’d a thunk it so this is what we’re looking at so reading this chart as far as technical levels really the only thing we have to go on right here if I draw out level is really kind of this spot on the bottom at about $73 so really right now if volatility were higher than it is it would be a good put selling opportunity or put spread opportunity but right now it might just be a long stock opportunity if you think that byn d is the fake meat provider of the future and if you think fake meat is gonna hang around so this isn’t an indication to I beyond me it’s just saying if you were going to this would probably be the level to do it just because we’ve been down here for so long and now they’re having some good news come out and this could push the stock up higher is it a long term hold I’m not really sure I need to go through and do my due diligence as far as what their balance sheet currently looks like if they’re profitable right now a lot of different things come into play where you’ll have to go from the chart looking at the technical levels into the balance sheet and into more of the fundamentals and the values that come either see if you think it is a good long play and with that that is your B Y nd beyond meat report hope the news was helpful today hope the chart breakdowns help inform your trades moving into tomorrow if you’re interested in following us on Facebook hit our logo on the youtube banner if you have questions drop them below if you’re new to the channel consider subscribing if you like this video hit that thumbs up for more videos and we’ll see you next time [Music]

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