Tesla Testing Key Levels: Breakout or Breakdown Ahead? Jan 28
Analysis: Tesla (TSLA) is displaying a consolidation pattern following a recent decline. The price is currently hovering near the $397 level, with support at $379 and resistance at $418. The
MACD is neutral, while the Stochastic RSI shows overbought conditions, suggesting a potential short-term pullback.
* Key Support: $379
* Key Resistance: $418
If the price breaks above $418 with significant volume, it could test $439 as the next resistance. On the downside, a breakdown below $379 may push the price toward the $360-$350 zone.
Price Action Insights:
* Tesla is consolidating within a descending channel. A breakout could signal trend reversal.
* Volume remains moderate, indicating indecision among traders.
Trade Scenarios:
1. Bullish: Enter above $418 with targets at $439 and $450. Set a stop-loss at $397.
2. Bearish: Short below $379 targeting $360 and $350. Place a stop-loss at $400.
Gamma Exposure (GEX) Analysis for TSLA Options
* Highest Call Resistance (Gamma Wall): $440
* Put Support: $350
* Implied Volatility (IVR): 66.1
* Call Dominance: 83%
Options Observations:
* Significant GEX levels at $440 suggest strong resistance, with a potential pivot at $407.5.
* The $350 zone acts as a substantial put wall, providing support.
Options Trading Setup:
1. Bullish Option: Buy Call at $418 strike, targeting $440. Premiums are elevated; manage risk with tight stops.
2. Bearish Option: Buy Put at $379 strike, aiming for $360-$350. Use defined risk strategies to minimize losses.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before trading.
MACD is neutral, while the Stochastic RSI shows overbought conditions, suggesting a potential short-term pullback.
* Key Support: $379
* Key Resistance: $418
If the price breaks above $418 with significant volume, it could test $439 as the next resistance. On the downside, a breakdown below $379 may push the price toward the $360-$350 zone.
Price Action Insights:
* Tesla is consolidating within a descending channel. A breakout could signal trend reversal.
* Volume remains moderate, indicating indecision among traders.
Trade Scenarios:
1. Bullish: Enter above $418 with targets at $439 and $450. Set a stop-loss at $397.
2. Bearish: Short below $379 targeting $360 and $350. Place a stop-loss at $400.
Gamma Exposure (GEX) Analysis for TSLA Options
* Highest Call Resistance (Gamma Wall): $440
* Put Support: $350
* Implied Volatility (IVR): 66.1
* Call Dominance: 83%
Options Observations:
* Significant GEX levels at $440 suggest strong resistance, with a potential pivot at $407.5.
* The $350 zone acts as a substantial put wall, providing support.
Options Trading Setup:
1. Bullish Option: Buy Call at $418 strike, targeting $440. Premiums are elevated; manage risk with tight stops.
2. Bearish Option: Buy Put at $379 strike, aiming for $360-$350. Use defined risk strategies to minimize losses.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before trading.
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.