TSLA at a Key Reversal Point! Is This the Start of a Major Rally
🚀 📊 Market Overview:
Tesla (TSLA) has been in a sustained downtrend but has recently broken out of a descending channel. With increased volume and positive momentum, traders are watching for confirmation of a trend reversal.
📈 Key Technical Analysis:
* Trend Structure: TSLA broke out of a falling wedge pattern, signaling a potential bullish reversal.
* Support & Resistance:
* Support Levels: $342.50, $330.00 (major put walls).
* Resistance Levels: $370.00, $400.00 (major call walls).
* Indicators:
* MACD: Just crossed bullish, showing increasing momentum.
* Stochastic RSI: Recovered from oversold and moving higher.
* Volume: Strong buying volume on breakout.
🚀 Trade Setups:
* Bullish Scenario:
* Entry: Above $356 for confirmation.
* Targets: $370 → $400.
* Stop Loss: Below $342.
* Bearish Scenario (Rejection Play):
* Short Entry: If it fails to hold $356.
* Targets: $342 → $330.
* Stop Loss: Above $365.
📊 Options & GEX Insights:
* Gamma Exposure (GEX): Positive GEX suggests a push towards $370+.
* Options Data:
* Call Wall Resistance: $400.
* Put Wall Support: $330.
* IV Rank (IVR): 39.6 - indicating moderate options activity.
⚡️ Final Thoughts:
Tesla is at a critical breakout zone. If momentum sustains, the next leg could be toward $370 and beyond. However, a rejection at resistance may lead to a pullback. Watch for volume confirmation before making a move!
🔔 Stay sharp and trade smart!
⚠️ Disclaimer:
This analysis is for educational purposes only. Always do your research and trade at your own risk.
Tesla (TSLA) has been in a sustained downtrend but has recently broken out of a descending channel. With increased volume and positive momentum, traders are watching for confirmation of a trend reversal.
📈 Key Technical Analysis:
* Trend Structure: TSLA broke out of a falling wedge pattern, signaling a potential bullish reversal.
* Support & Resistance:
* Support Levels: $342.50, $330.00 (major put walls).
* Resistance Levels: $370.00, $400.00 (major call walls).
* Indicators:
* MACD: Just crossed bullish, showing increasing momentum.
* Stochastic RSI: Recovered from oversold and moving higher.
* Volume: Strong buying volume on breakout.
🚀 Trade Setups:
* Bullish Scenario:
* Entry: Above $356 for confirmation.
* Targets: $370 → $400.
* Stop Loss: Below $342.
* Bearish Scenario (Rejection Play):
* Short Entry: If it fails to hold $356.
* Targets: $342 → $330.
* Stop Loss: Above $365.
📊 Options & GEX Insights:
* Gamma Exposure (GEX): Positive GEX suggests a push towards $370+.
* Options Data:
* Call Wall Resistance: $400.
* Put Wall Support: $330.
* IV Rank (IVR): 39.6 - indicating moderate options activity.
⚡️ Final Thoughts:
Tesla is at a critical breakout zone. If momentum sustains, the next leg could be toward $370 and beyond. However, a rejection at resistance may lead to a pullback. Watch for volume confirmation before making a move!
🔔 Stay sharp and trade smart!
⚠️ Disclaimer:
This analysis is for educational purposes only. Always do your research and trade at your own risk.
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.