TSLA Technical Analysis and GEX Option Insights - Jan. 3
Price Action Analysis
Tesla (TSLA) continues to demonstrate high volatility, trading within a range defined by critical support and resistance levels. The stock recently attempted to breach the $420 resistance but faced rejection, with current trading levels near $402. Downward momentum is building, indicated by increasing selling pressure and key technical signals.
Key Levels to Watch
Resistance Zones:
$420: Key resistance and gamma wall; a break here may signal bullish continuation.
$439.74: Strong resistance; clearing this level could open up room for higher targets.
Support Zones:
$390: Current pivot point; crucial to hold for near-term stability.
$365: Strong gamma support; breach could lead to accelerated downside.
Indicator Analysis
MACD: Bearish crossover; signals momentum is shifting to the downside.
Stochastic RSI: Bearish divergence; suggests overbought conditions cooling off.
Volume: Consistent selling pressure with below-average buying strength.
GEX (Gamma Exposure) Insights
Call Walls:
$420: 82.24% gamma resistance; significant seller activity expected here.
$450: Major overhead resistance with high call concentration.
Put Walls:
$390: 30.32% support level.
$365: Strong gamma support and capitulation level.
Scenarios
Bullish:
Break above $420 with sustained volume.
Target upside levels at $430 and $450.
Bearish:
Breach of $390 could trigger selling toward $365 and $350.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a financial advisor before making any trading decisions.
Tesla (TSLA) continues to demonstrate high volatility, trading within a range defined by critical support and resistance levels. The stock recently attempted to breach the $420 resistance but faced rejection, with current trading levels near $402. Downward momentum is building, indicated by increasing selling pressure and key technical signals.
Key Levels to Watch
Resistance Zones:
$420: Key resistance and gamma wall; a break here may signal bullish continuation.
$439.74: Strong resistance; clearing this level could open up room for higher targets.
Support Zones:
$390: Current pivot point; crucial to hold for near-term stability.
$365: Strong gamma support; breach could lead to accelerated downside.
Indicator Analysis
MACD: Bearish crossover; signals momentum is shifting to the downside.
Stochastic RSI: Bearish divergence; suggests overbought conditions cooling off.
Volume: Consistent selling pressure with below-average buying strength.
GEX (Gamma Exposure) Insights
Call Walls:
$420: 82.24% gamma resistance; significant seller activity expected here.
$450: Major overhead resistance with high call concentration.
Put Walls:
$390: 30.32% support level.
$365: Strong gamma support and capitulation level.
Scenarios
Bullish:
Break above $420 with sustained volume.
Target upside levels at $430 and $450.
Bearish:
Breach of $390 could trigger selling toward $365 and $350.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a financial advisor before making any trading decisions.
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.