TSLA at a Pivotal Zone! Key Trade Setups for Tomorrow Feb. 20Technical Analysis (TA) Overview
TSLA is currently consolidating near 360-363, following a strong breakout from a descending wedge pattern. The price is now testing a key volume profile resistance zone, indicating that the next move will depend on whether buyers can maintain strength or if sellers step in.
📌 Key Support & Resistance Levels:
* Resistance: 363.81 (Volume Profile High), 367-370 (major resistance and call wall)
* Support: 360, 352.50, 350 (major put support)
📌 Indicators:
* MACD: Momentum is slightly bullish, but histogram shows signs of weakness.
* Stoch RSI: Near mid-levels, indicating room for both upside and downside—not overbought yet.
* Volume Profile: High trading activity around 360-363, suggesting price could stall or reject here before another move.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 370: First major resistance level.
* 380: Strong call resistance, likely a tough breakout without significant volume.
🔹 Put Walls (Support):
* 350: Heavy put support—this level is crucial for maintaining bullish momentum.
* 340-330: If 350 breaks, bears could push lower toward these levels.
🔹 Options Sentiment:
* IVR: 35.3 (moderate volatility—could see larger moves).
* Call Open Interest: 47.7% – Mixed sentiment, but slightly leaning bearish.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If TSLA breaks above 364 and holds, we could see a move toward 367-370.
* Ideal entry: Above 364, stop-loss below 360.
* Profit targets: 367, 370, 380 (extension if momentum continues).
❌ Bearish Setup:
* If TSLA fails to hold 360, sellers could push it down toward 352.50-350.
* Ideal entry: Below 360, stop-loss above 363.
* Profit targets: 355, 352.50, 350 (major support level).
Probability Estimate for TSLA’s Next Move: Bullish Move Above 364 (Targets 367-370)
Scenario Probability (%): 50%
Reasoning: TSLA broke out of a descending wedge, signaling bullish intent.
• Needs sustained volume to clear 363-364 resistance zone.
* If buyers push above 364, expect a move toward 367-370. | | Choppy/Sideways (Range 360-364) | 30% | - Volume profile shows heavy activity in this zone, meaning TSLA could stall here.
* MACD is showing weak momentum, suggesting consolidation could occur. | | Bearish Breakdown Below 360 (Targets 355-350) | 20% | - If TSLA loses 360, sellers could quickly test 355-352.50.
* 350 is a strong put wall, so bears need significant momentum to push lower. |
Final Thoughts
* TSLA needs to break 364-365 for further upside. If it does, 370 is the key breakout target.
* Failure to hold 360 could bring selling pressure, targeting 355-350.
* Overall, I lean slightly bullish (50%) but expect some consolidation unless a strong catalyst appears.
🔹 Best Trading Plan:
* Bullish Play: Watch for a breakout above 364 → target 367-370.
* Bearish Play: Look for rejection near 363-364 or a break below 360 → target 355-350.
🚨 TSLA is at a critical resistance zone, so expect either a strong breakout or a rejection back to support.
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