TSLA Re-Accumulation/Distribution

Updated

TSLA price swings are signs of accumulation/distribution. Weakness in small time frame / Strength on Daily - this is either correction or liquidity grab into next move up
$190 support - Weakness under $188, $182 is LPS
*1hr support 21 EMA Resistance 8ema
*5ma Daily Support
Weekly anchored VWAP: $188

*1hr indicators are showing triple negative divergence
Powell could be the catalyst to push markets & Tesla into correction territory
*Options - $200 weekly Call Wall Wallstreet max pain will be between $188-$190 (this changes daily)
Weekly expected move: $207 high $197 low

Intraday: 2/7 (Bearish)
Trading between $198-$190 then $188-182

I was expecting an upthrust to $200-201 for a liquidity grab before correction... still possible, but 1 hr. bullishness is weakening
current bias is bearish for the short-term. *above 201.8 I can see this going to weekly highs

*Pay attention to Volume of Selling and Buying - Buying Volume is still larger* Low Volume Sell-off is a sign of re-accumulation

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bulls are testing previous ascending support which is short-term resistance:

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$190 is STRONG buying pressure -Bears need to keep price below $194 to continue price reduction

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I thought Bulls would gap past $200 pre-market so they wouldn't have to try and battle resistance...*$200 Call Option Wall is getting bigger daily - watch for Manipulation Breaks - Volume will be key to breaks

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Revised :

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In the past week TSLA is only $2 above the high of $199 - (to much effort to move price up) Demand is diminishing, I could see it drop from here, or tag $205-$210 with an exhaustion rally. aka - bull trap. Selling volume is smoother and more consistent -If Strong Consistent Buying volume comes I will change my bias but currently- Bearish. * I will trade into rally and begin selling $210 end of Feb/early March calls - depending on price action.

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*BE CAREFUL-*DO NOT FOMO *Exhaustion Rally/Bull Trap Warning - Keep an eye on US500 &US100 - if they make new highs I will trust this move-up, feels like a Pump & Dump Distribution event.

Black_Sheep1

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