Hey traders! Quick check-in on TSLA based on the 4-hour chart.
📈 Technical Analysis (TA):
TSLA broke above a descending trendline signaling potential bullish momentum.
Watch closely for a confirmation above the current supply zone around $250-$255.
We had a clear Change of Character (CHoCh) indicating a possible reversal from the previous downtrend.
Important support sits at the recent demand zone around $215-$217, marked as a Break of Structure (BOS).
Next strong resistance to watch is around $320; breaking this can trigger a big move up.
📊 GEX & Options Insights:
Highest negative NET GEX at $217, strong PUT support here—keep this level marked clearly.
Call resistance is around $255; breaking above here could initiate a gamma squeeze pushing prices higher.
IV Rank is relatively high at 57.8%, signaling premium prices are rich—good for selling premium or credit spreads.
Call to Put ratio shows slight bearish sentiment (33.4% Calls), so keep your risk tight.
💡 Trade Recommendations:
Bullish Play: Wait for a clear close above $255 to enter calls, targeting around $300. Tight stop-loss just below $245.
Bearish Play: If TSLA rejects the $255 resistance strongly, consider puts targeting the demand zone around $217.
Neutral traders might consider Iron Condors or credit spreads between the clear ranges ($215–$255).
🛑 Risk Management:
Always use defined risk strategies, particularly with the higher IV environment we're in.
Let's see how it plays out. Good luck!
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.
📈 Technical Analysis (TA):
TSLA broke above a descending trendline signaling potential bullish momentum.
Watch closely for a confirmation above the current supply zone around $250-$255.
We had a clear Change of Character (CHoCh) indicating a possible reversal from the previous downtrend.
Important support sits at the recent demand zone around $215-$217, marked as a Break of Structure (BOS).
Next strong resistance to watch is around $320; breaking this can trigger a big move up.
📊 GEX & Options Insights:
Highest negative NET GEX at $217, strong PUT support here—keep this level marked clearly.
Call resistance is around $255; breaking above here could initiate a gamma squeeze pushing prices higher.
IV Rank is relatively high at 57.8%, signaling premium prices are rich—good for selling premium or credit spreads.
Call to Put ratio shows slight bearish sentiment (33.4% Calls), so keep your risk tight.
💡 Trade Recommendations:
Bullish Play: Wait for a clear close above $255 to enter calls, targeting around $300. Tight stop-loss just below $245.
Bearish Play: If TSLA rejects the $255 resistance strongly, consider puts targeting the demand zone around $217.
Neutral traders might consider Iron Condors or credit spreads between the clear ranges ($215–$255).
🛑 Risk Management:
Always use defined risk strategies, particularly with the higher IV environment we're in.
Let's see how it plays out. Good luck!
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.
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.