TSLA at a Pivotal Zone! Key Trade Setups for Tomorrow Feb. 20
Technical Analysis (TA) Overview
TSLA is currently consolidating near 360-363, following a strong breakout from a descending wedge pattern. The price is now testing a key volume profile resistance zone, indicating that the next move will depend on whether buyers can maintain strength or if sellers step in.
📌 Key Support & Resistance Levels:
* Resistance: 363.81 (Volume Profile High), 367-370 (major resistance and call wall)
* Support: 360, 352.50, 350 (major put support)
📌 Indicators:
* MACD: Momentum is slightly bullish, but histogram shows signs of weakness.
* Stoch RSI: Near mid-levels, indicating room for both upside and downside—not overbought yet.
* Volume Profile: High trading activity around 360-363, suggesting price could stall or reject here before another move.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 370: First major resistance level.
* 380: Strong call resistance, likely a tough breakout without significant volume.
🔹 Put Walls (Support):
* 350: Heavy put support—this level is crucial for maintaining bullish momentum.
* 340-330: If 350 breaks, bears could push lower toward these levels.
🔹 Options Sentiment:
* IVR: 35.3 (moderate volatility—could see larger moves).
* Call Open Interest: 47.7% – Mixed sentiment, but slightly leaning bearish.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If TSLA breaks above 364 and holds, we could see a move toward 367-370.
* Ideal entry: Above 364, stop-loss below 360.
* Profit targets: 367, 370, 380 (extension if momentum continues).
❌ Bearish Setup:
* If TSLA fails to hold 360, sellers could push it down toward 352.50-350.
* Ideal entry: Below 360, stop-loss above 363.
* Profit targets: 355, 352.50, 350 (major support level).
Probability Estimate for TSLA’s Next Move: Bullish Move Above 364 (Targets 367-370)
Scenario Probability (%): 50%
Reasoning: TSLA broke out of a descending wedge, signaling bullish intent.
• Needs sustained volume to clear 363-364 resistance zone.
* If buyers push above 364, expect a move toward 367-370. | | Choppy/Sideways (Range 360-364) | 30% | - Volume profile shows heavy activity in this zone, meaning TSLA could stall here.
* MACD is showing weak momentum, suggesting consolidation could occur. | | Bearish Breakdown Below 360 (Targets 355-350) | 20% | - If TSLA loses 360, sellers could quickly test 355-352.50.
* 350 is a strong put wall, so bears need significant momentum to push lower. |
Final Thoughts
* TSLA needs to break 364-365 for further upside. If it does, 370 is the key breakout target.
* Failure to hold 360 could bring selling pressure, targeting 355-350.
* Overall, I lean slightly bullish (50%) but expect some consolidation unless a strong catalyst appears.
🔹 Best Trading Plan:
* Bullish Play: Watch for a breakout above 364 → target 367-370.
* Bearish Play: Look for rejection near 363-364 or a break below 360 → target 355-350.
🚨 TSLA is at a critical resistance zone, so expect either a strong breakout or a rejection back to support.
*
Would you like a more detailed intraday game plan for trade execution? ✅🚀
TSLA is currently consolidating near 360-363, following a strong breakout from a descending wedge pattern. The price is now testing a key volume profile resistance zone, indicating that the next move will depend on whether buyers can maintain strength or if sellers step in.
📌 Key Support & Resistance Levels:
* Resistance: 363.81 (Volume Profile High), 367-370 (major resistance and call wall)
* Support: 360, 352.50, 350 (major put support)
📌 Indicators:
* MACD: Momentum is slightly bullish, but histogram shows signs of weakness.
* Stoch RSI: Near mid-levels, indicating room for both upside and downside—not overbought yet.
* Volume Profile: High trading activity around 360-363, suggesting price could stall or reject here before another move.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 370: First major resistance level.
* 380: Strong call resistance, likely a tough breakout without significant volume.
🔹 Put Walls (Support):
* 350: Heavy put support—this level is crucial for maintaining bullish momentum.
* 340-330: If 350 breaks, bears could push lower toward these levels.
🔹 Options Sentiment:
* IVR: 35.3 (moderate volatility—could see larger moves).
* Call Open Interest: 47.7% – Mixed sentiment, but slightly leaning bearish.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If TSLA breaks above 364 and holds, we could see a move toward 367-370.
* Ideal entry: Above 364, stop-loss below 360.
* Profit targets: 367, 370, 380 (extension if momentum continues).
❌ Bearish Setup:
* If TSLA fails to hold 360, sellers could push it down toward 352.50-350.
* Ideal entry: Below 360, stop-loss above 363.
* Profit targets: 355, 352.50, 350 (major support level).
Probability Estimate for TSLA’s Next Move: Bullish Move Above 364 (Targets 367-370)
Scenario Probability (%): 50%
Reasoning: TSLA broke out of a descending wedge, signaling bullish intent.
• Needs sustained volume to clear 363-364 resistance zone.
* If buyers push above 364, expect a move toward 367-370. | | Choppy/Sideways (Range 360-364) | 30% | - Volume profile shows heavy activity in this zone, meaning TSLA could stall here.
* MACD is showing weak momentum, suggesting consolidation could occur. | | Bearish Breakdown Below 360 (Targets 355-350) | 20% | - If TSLA loses 360, sellers could quickly test 355-352.50.
* 350 is a strong put wall, so bears need significant momentum to push lower. |
Final Thoughts
* TSLA needs to break 364-365 for further upside. If it does, 370 is the key breakout target.
* Failure to hold 360 could bring selling pressure, targeting 355-350.
* Overall, I lean slightly bullish (50%) but expect some consolidation unless a strong catalyst appears.
🔹 Best Trading Plan:
* Bullish Play: Watch for a breakout above 364 → target 367-370.
* Bearish Play: Look for rejection near 363-364 or a break below 360 → target 355-350.
🚨 TSLA is at a critical resistance zone, so expect either a strong breakout or a rejection back to support.
*
Would you like a more detailed intraday game plan for trade execution? ✅🚀
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.