TSLA Technical Analysis & GEX Insights
Market Overview
Tesla's price action suggests a continuous downtrend within a descending channel on the hourly chart. The volume profile aligns with bearish momentum, as sellers maintain control near key support levels. The GEX (Gamma Exposure) insights provide critical levels for options-based decision-making.
Technical Analysis
1. Trend Analysis:
* TSLA is respecting the descending channel with lower highs and lower lows.
* The price has approached the lower bounds of the channel, currently near $357.
2. Support and Resistance:
* Immediate Support: $357 (strong put wall and local price defense).
* Secondary Support: $350 (critical psychological level, reinforced by put OI).
* Resistance Levels:
* $373 (minor resistance within the channel).
* $380 (key rejection point based on call resistance and HVL zone).
3. Indicators:
* MACD: Momentum is bearish, with the MACD line below the signal line, and no signs of reversal yet.
* Stochastic RSI: Oversold conditions suggest a potential bounce but lack confirmation.
* Volume: Decreasing on the downtrend, indicating a potential lack of conviction by sellers.
4. Price Action Insights:
* Consolidation near the lower trendline may indicate either accumulation or further bearish continuation.
* A breach below $357 could accelerate selling pressure toward $350.
Gamma Exposure (GEX) Analysis
1. Critical GEX Levels:
* Call Walls:
* $400: Strong resistance with 71.6% call-based gamma.
* $420-$450: Long-term bullish targets if a reversal materializes.
* Put Walls:
* $361-$350: Highest negative GEX zone; pivotal support for short-term price movement.
2. Options Oscillator Metrics:
* IVR (Implied Volatility Rank): 31.2, indicating moderate volatility.
* IVx (Implied Volatility): 68.5% average.
* Call/Put Dollar Ratio: 49.1% skewed slightly toward call interest.
3. Implications:
* Strong put gamma at $350-$357 aligns with critical support, suggesting a high likelihood of defensive action by market makers at these levels.
* A significant close above $373 could trigger unwinding of short positions, leading to a gamma squeeze toward $380.
Trade Setups
1. Bullish Setup:
* Entry: Above $373.
* Target: $380, $400.
* Stop Loss: Below $370.
2. Bearish Setup:
* Entry: Below $357.
* Target: $350, $340.
* Stop Loss: Above $360.
Conclusion
Tesla is at a decisive point near $357. While oversold indicators hint at a possible bounce, the prevailing bearish trend and GEX positioning suggest caution. Traders should monitor breaks of $357 for bearish continuation or $373 for bullish momentum.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
Tesla's price action suggests a continuous downtrend within a descending channel on the hourly chart. The volume profile aligns with bearish momentum, as sellers maintain control near key support levels. The GEX (Gamma Exposure) insights provide critical levels for options-based decision-making.
Technical Analysis
1. Trend Analysis:
* TSLA is respecting the descending channel with lower highs and lower lows.
* The price has approached the lower bounds of the channel, currently near $357.
2. Support and Resistance:
* Immediate Support: $357 (strong put wall and local price defense).
* Secondary Support: $350 (critical psychological level, reinforced by put OI).
* Resistance Levels:
* $373 (minor resistance within the channel).
* $380 (key rejection point based on call resistance and HVL zone).
3. Indicators:
* MACD: Momentum is bearish, with the MACD line below the signal line, and no signs of reversal yet.
* Stochastic RSI: Oversold conditions suggest a potential bounce but lack confirmation.
* Volume: Decreasing on the downtrend, indicating a potential lack of conviction by sellers.
4. Price Action Insights:
* Consolidation near the lower trendline may indicate either accumulation or further bearish continuation.
* A breach below $357 could accelerate selling pressure toward $350.
Gamma Exposure (GEX) Analysis
1. Critical GEX Levels:
* Call Walls:
* $400: Strong resistance with 71.6% call-based gamma.
* $420-$450: Long-term bullish targets if a reversal materializes.
* Put Walls:
* $361-$350: Highest negative GEX zone; pivotal support for short-term price movement.
2. Options Oscillator Metrics:
* IVR (Implied Volatility Rank): 31.2, indicating moderate volatility.
* IVx (Implied Volatility): 68.5% average.
* Call/Put Dollar Ratio: 49.1% skewed slightly toward call interest.
3. Implications:
* Strong put gamma at $350-$357 aligns with critical support, suggesting a high likelihood of defensive action by market makers at these levels.
* A significant close above $373 could trigger unwinding of short positions, leading to a gamma squeeze toward $380.
Trade Setups
1. Bullish Setup:
* Entry: Above $373.
* Target: $380, $400.
* Stop Loss: Below $370.
2. Bearish Setup:
* Entry: Below $357.
* Target: $350, $340.
* Stop Loss: Above $360.
Conclusion
Tesla is at a decisive point near $357. While oversold indicators hint at a possible bounce, the prevailing bearish trend and GEX positioning suggest caution. Traders should monitor breaks of $357 for bearish continuation or $373 for bullish momentum.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade 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.