After confirming the $122 Support Rejection going into the end of the week/year for TSLA, we expected to at least re-test the $106-$108 Support Levels and found confirmation on the 1-Hr Timeframe.
With additional bull analysts starting to kick in, we believe it will take a little longer before the stock actually goes lower. Of course, we're monitoring and will wait for confirmation above the $122s again before closing or determining if we're creating a channel sideways between the $106s-$122s for a while until moving higher/lower.
(Didn't press send on this earlier around 12 CST)
With additional bull analysts starting to kick in, we believe it will take a little longer before the stock actually goes lower. Of course, we're monitoring and will wait for confirmation above the $122s again before closing or determining if we're creating a channel sideways between the $106s-$122s for a while until moving higher/lower.
(Didn't press send on this earlier around 12 CST)
Note
Following the new Blue Line Trends (Right-Side Chart) very carefully and will let that weigh on my decision of holding yesterday's call on the stock.
Note
Intraday from a lower time frame. Resistance > Support Conversion at $112s while looking to breakout above $113.85 or so
Watch that support line though to determine if I continue holding my Calls throughout the rest of the week
Note
How we're currently reacting to these levels nowNote
Potential triple top rejection here unless it can break out. if it does, we're reversing to potential PUTS
Trade closed: stop reached
Options closed on STOPs due to the continued rejection.
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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.