TSLA has experienced a sharp breakout, showing significant bullish momentum. The price action is forming a clean structure with clear support and resistance levels, making it ideal for both scalping and swing trades. Let’s dive into the setup and game plan.
Market Structure Overview:
* Trend: TSLA is in a strong uptrend, recently breaking above key resistance levels. The trendline support remains intact.
* Current Price Action:
* Price is consolidating near $368-$375 after the breakout, suggesting potential for either continuation or pullback.
* Strong volume accompanied the breakout, supporting the move higher.
Key Levels to Watch:
* Resistance:
* $375.43: Key short-term resistance.
* $384.41: Next upside target if momentum continues.
* Support:
* $355.02: Immediate support level, aligning with previous resistance turned support.
* $348.12: Critical support zone and trendline base.
Liquidity Zones & Order Blocks:
* Liquidity Zone: The price may target stops below $355.02 before resuming upward.
* Order Blocks:
* Bullish OB: Between $348.12-$355.02, strong demand zone.
* Bearish OB: Near $375.43-$380, aligning with recent selling pressure.
MACD & Volume Analysis:
* MACD: Momentum remains positive, but the histogram is showing signs of divergence—potentially signaling slowing bullish momentum.
* Volume: High during the breakout but slightly declining as the price consolidates. Watch for volume spikes near key levels.
Scalping Strategy:
* Entry:
* Look for quick longs at $355-$358 if price pulls back with confirmation (e.g., bullish engulfing candle).
* Alternatively, short scalps at $375 with bearish rejection.
* Exit:
* For longs, take profits near $368-$370.
* For shorts, target $360-$355.
* Stop-Loss:
* Tight stop at $353 for longs, $377 for shorts.
Swing Trading Strategy:
* Bullish Play: Enter on pullback to $355-$358 zone with confirmation. Target $375, then $384.
* Bearish Play: If the price fails to break above $375 convincingly, short with a target of $348-$350.
* Stop-Loss: For longs, set below $348. For shorts, above $377.
Game Plan for TSLA Trading:
1. Pre-Market Prep:
* Mark key levels: $375 (resistance), $355 (support).
* Check for Tesla-related news or macroeconomic updates.
2. Market Open Strategy:
* Wait for the first 15-30 minutes to observe the direction.
* Look for a pullback or breakout confirmation.
3. Intraday Execution:
* Use trendlines and moving averages to confirm entries.
* Avoid chasing the price during volatile spikes.
4. End of Day:
* Secure profits or close positions if the trendline breaks.
Likely Direction:
* Bullish Scenario: A breakout above $375 could push TSLA to $384 or higher, continuing the uptrend.
* Bearish Scenario: Rejection near $375 and failure to hold $355 could lead to a pullback towards $348.
Disclaimer: This analysis is for educational purposes only and is not financial advice. Always perform your own research and trade responsibly.
Market Structure Overview:
* Trend: TSLA is in a strong uptrend, recently breaking above key resistance levels. The trendline support remains intact.
* Current Price Action:
* Price is consolidating near $368-$375 after the breakout, suggesting potential for either continuation or pullback.
* Strong volume accompanied the breakout, supporting the move higher.
Key Levels to Watch:
* Resistance:
* $375.43: Key short-term resistance.
* $384.41: Next upside target if momentum continues.
* Support:
* $355.02: Immediate support level, aligning with previous resistance turned support.
* $348.12: Critical support zone and trendline base.
Liquidity Zones & Order Blocks:
* Liquidity Zone: The price may target stops below $355.02 before resuming upward.
* Order Blocks:
* Bullish OB: Between $348.12-$355.02, strong demand zone.
* Bearish OB: Near $375.43-$380, aligning with recent selling pressure.
MACD & Volume Analysis:
* MACD: Momentum remains positive, but the histogram is showing signs of divergence—potentially signaling slowing bullish momentum.
* Volume: High during the breakout but slightly declining as the price consolidates. Watch for volume spikes near key levels.
Scalping Strategy:
* Entry:
* Look for quick longs at $355-$358 if price pulls back with confirmation (e.g., bullish engulfing candle).
* Alternatively, short scalps at $375 with bearish rejection.
* Exit:
* For longs, take profits near $368-$370.
* For shorts, target $360-$355.
* Stop-Loss:
* Tight stop at $353 for longs, $377 for shorts.
Swing Trading Strategy:
* Bullish Play: Enter on pullback to $355-$358 zone with confirmation. Target $375, then $384.
* Bearish Play: If the price fails to break above $375 convincingly, short with a target of $348-$350.
* Stop-Loss: For longs, set below $348. For shorts, above $377.
Game Plan for TSLA Trading:
1. Pre-Market Prep:
* Mark key levels: $375 (resistance), $355 (support).
* Check for Tesla-related news or macroeconomic updates.
2. Market Open Strategy:
* Wait for the first 15-30 minutes to observe the direction.
* Look for a pullback or breakout confirmation.
3. Intraday Execution:
* Use trendlines and moving averages to confirm entries.
* Avoid chasing the price during volatile spikes.
4. End of Day:
* Secure profits or close positions if the trendline breaks.
Likely Direction:
* Bullish Scenario: A breakout above $375 could push TSLA to $384 or higher, continuing the uptrend.
* Bearish Scenario: Rejection near $375 and failure to hold $355 could lead to a pullback towards $348.
Disclaimer: This analysis is for educational purposes only and is not financial advice. Always perform 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.