TSLA at a Pivotal Level! Key Trade Setups for This Week
Analysis:
TSLA is consolidating after a sharp rally, holding above the critical $400 psychological level. The stock is forming higher lows on the daily chart, suggesting bullish momentum remains intact. However, overhead resistance at $425-$430 is a key barrier, with GEX analysis showing strong call walls in this region. The MACD is in bullish territory, while the Stochastic RSI indicates potential for further upside but warns of possible consolidation before a breakout.
Key Levels to Watch:
* Resistance Levels:
* $425-$430: Major resistance with the highest call wall and strong GEX resistance.
* $440-$450: Extended target with significant gamma positioning.
* Support Levels:
* $407-$410: First support zone, aligned with key demand.
* $400: Strong psychological and gamma support.
* $395: Final downside support before further declines.
GEX Insights:
* Gamma Exposure (GEX):
* Positive GEX levels dominate: Suggesting call option positioning favors higher prices.
* Call Resistance: $425-$430 region has the highest positive GEX.
* Put Walls: $400-$395 act as strong support zones.
* Options Activity:
* IVR: Elevated at 80.1, signaling high implied volatility with potential for large moves.
* Call/Put Bias: 77.4% call positioning highlights bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Break above $425 with volume and momentum.
* Target: $440 (first target), $450 (extended target).
* Stop-Loss: Below $410.
Bearish Scenario:
* Entry: Break below $407 with increased selling pressure.
* Target: $400 (first target), $395 (extended target).
* Stop-Loss: Above $415.
Directional Bias:
The bias is cautiously bullish as TSLA holds above key support levels, but the stock needs to break $425 decisively to unlock higher targets. A failure to hold $400 could trigger downside acceleration.
Actionable Suggestions:
* For Scalpers: Look for quick trades near $410-$425 levels, depending on the direction of breakout or rejection.
* For Swing Traders: Focus on the $407-$430 range for breakout or breakdown setups.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
TSLA is consolidating after a sharp rally, holding above the critical $400 psychological level. The stock is forming higher lows on the daily chart, suggesting bullish momentum remains intact. However, overhead resistance at $425-$430 is a key barrier, with GEX analysis showing strong call walls in this region. The MACD is in bullish territory, while the Stochastic RSI indicates potential for further upside but warns of possible consolidation before a breakout.
Key Levels to Watch:
* Resistance Levels:
* $425-$430: Major resistance with the highest call wall and strong GEX resistance.
* $440-$450: Extended target with significant gamma positioning.
* Support Levels:
* $407-$410: First support zone, aligned with key demand.
* $400: Strong psychological and gamma support.
* $395: Final downside support before further declines.
GEX Insights:
* Gamma Exposure (GEX):
* Positive GEX levels dominate: Suggesting call option positioning favors higher prices.
* Call Resistance: $425-$430 region has the highest positive GEX.
* Put Walls: $400-$395 act as strong support zones.
* Options Activity:
* IVR: Elevated at 80.1, signaling high implied volatility with potential for large moves.
* Call/Put Bias: 77.4% call positioning highlights bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Break above $425 with volume and momentum.
* Target: $440 (first target), $450 (extended target).
* Stop-Loss: Below $410.
Bearish Scenario:
* Entry: Break below $407 with increased selling pressure.
* Target: $400 (first target), $395 (extended target).
* Stop-Loss: Above $415.
Directional Bias:
The bias is cautiously bullish as TSLA holds above key support levels, but the stock needs to break $425 decisively to unlock higher targets. A failure to hold $400 could trigger downside acceleration.
Actionable Suggestions:
* For Scalpers: Look for quick trades near $410-$425 levels, depending on the direction of breakout or rejection.
* For Swing Traders: Focus on the $407-$430 range for breakout or breakdown setups.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
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