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.
