TSLA - daily support line, weekly top? - puts

26 Jun 2020

If TSLA opens below Thursday's close, I will be looking for stock to head lower over next two weeks. Since options are so expensive, I may buy a 7/2 expiry put. I may use 6/26 expiry for a day trade. On daily chart, price often follows a pattern of breaking 10 sma, retracing back to it, then more selling down to 20sma. In this case, white support line is nearby. Also on weeky chart you can see lower volume these past few weeks compared to higher green and red bars previously. Candle formation is showing a possible top, and there is room down to the 10sma. There will be RSI and other bearish indications on the 30min chart if selling picks up.

26 Jun 2020

Catatan

avoiding stock, unless I see a day trade later. it is starting higher. Most likely I will wait until Mon-Tues next week. July 2 Tesla is supposed to provide delivery guidance.

26 Jun 2020

Catatan

Once I saw price going below yesterdays close, I looked at multiple timeframes and decided to day trade. Bought 970 puts at 4.40. Sold them for 7.30 and 10.
If you are still learning and creating your trading methods (which indicators to use, how to use them), study the chart. see how different timeframes generate signals that support a trade or give mixed signals. Find your reasons for entering a trade that profits, and replicate it on different charts.