TSLA $200's Resistance
Updated
TSLA opening above $198.5 should go up towards $204 gap fill possibly $206 retracement ...
resistance @ $$199.5-200.5 then $204 (2 sigma weekly Move)
If Fed is Dovish today with a 25bp hike this will help to push bullish narrative
Fed with 25bps and Hawkish rhetoric can stop the bull run.
Below $194, we could see Tesla go for Gap fill below and settle around $190 to finish the week
This Feels like a Bull Trap set-up- just my opinion
I bought back in @ 175
Since I plan on taking Profits for this week I will look into selling $200-$205 calls against my $175 price positions *** this is a profit taking options position,
I would not sell calls if I did not own shares at that lower price.
resistance @ $$199.5-200.5 then $204 (2 sigma weekly Move)
If Fed is Dovish today with a 25bp hike this will help to push bullish narrative
Fed with 25bps and Hawkish rhetoric can stop the bull run.
Below $194, we could see Tesla go for Gap fill below and settle around $190 to finish the week
This Feels like a Bull Trap set-up- just my opinion
I bought back in @ 175
Since I plan on taking Profits for this week I will look into selling $200-$205 calls against my $175 price positions *** this is a profit taking options position,
I would not sell calls if I did not own shares at that lower price.
Trade active
$200.37-$200.5 should be initial resistance -it also coincides with 1.618 extension - cut through that and TSLA may go to the 2 extension at around $209. I would love to see $209 and sell $210 calls for profit taking on my positions
Note
just crossed bullish on MACD ... Papa Powell, about to put the Market in check..., don't think we are gonna hit $206 until after April...Speech isn't over yet...
Note
Tsla needs to stay above $194
Note
loosing 200 ma on the 1hr.. next support is 20ma & weekly AVWAP
Note
below $192 TSLA will test support of wedge breakout @ 186... then rising support channel... this is a falling knife at this point Dark Cloud Cover Formed on the Daily, tomorrow's candle will confirm or invalidate the Reversal
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