Current Trend: TSLA is in a clear downtrend on the 1-hour and daily charts. The price is trading below key EMAs, indicating bearish momentum. A descending trendline and lower lows formation further confirm the downtrend.
* Key Observations from Indicators:
* MACD (1-hour): Shows a potential bullish crossover as the histogram shifts upward, suggesting momentum could favor a short-term bounce.
* Stochastic RSI (1-hour): Oversold with a slight uptick, indicating the possibility of a short-term recovery.
* Volume: Recent sell-offs were accompanied by high volume, showing strong bearish sentiment, but lighter volume during the consolidation phase hints at declining selling pressure.
Key Support and Resistance Levels (Daily Chart):
* Support Levels:
* $383: Immediate support, with GEX data showing strong PUT activity at this level.
* $370: Next major support, aligning with a significant GEX PUT wall.
* Resistance Levels:
* $410: First resistance level, also a significant CALL wall with high GEX activity.
* $425: Secondary resistance, marked by historical rejection points and GEX CALL concentration.
GEX Insights:
* Gamma Exposure (GEX):
* Negative GEX Zones: Strong negative gamma below $390, indicating heightened volatility in the downside region.
* Key Gamma Walls:
* $383: The highest negative net GEX, aligning with support.
* $370: Critical PUT wall, where sellers could regain dominance if breached.
* Options Activity:
* IVR (Implied Volatility Rank) is at 61%, indicating moderate options pricing relative to its historical range.
* A high CALL/PUT ratio signals an imbalance, with a focus on bearish positions dominating near $383-$370.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $397.
* Target: $410 (initial), $425 (secondary).
* Stop-Loss: Below $383 to avoid downside risk.
Bearish Scenario:
* Entry: Below $383.
* Target: $370 (initial), with potential extension to $355.
* Stop-Loss: Above $397 to limit upside risk.
Conclusion:
TSLA remains under significant selling pressure but shows signs of short-term stabilization near $383. Traders should monitor volume and momentum at critical levels ($383 and $410) for potential breakout or breakdown setups.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and manage risk responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.