TSLA looks weak Today 7/15Current Price Levels:
Current Price: Around $258.18 (ask price)
Bid Price: $258.10
High: $271.00
Low: $231.90
Support and Resistance Levels:
Resistance:
$258.14 (current consolidation area)
$271.00 (recent high)
Support:
$249.89 (POC and strong support level)
$241.10 (another support level)
$231.90 (recent low)
Volume Profile:
POC (Point of Control): $249.89
Significant trading activity around $258.00 and $249.89.
Trend Lines and EMAs:
Moving Average (Purple Line): Acts as a long-term trend indicator and dynamic support/resistance.
Moving Average (Green Line): Represents short-term momentum and can be used to identify potential entry/exit points.
The price is currently below the purple line, indicating a bearish longer-term trend. However, the recent bounce suggests a potential reversal.
Indicators:
Volume: Increased volume during the downward movement indicates strong selling pressure.
Moving Averages: The yellow line has crossed above the price, suggesting short-term bullish momentum.
Price Action Analysis:
Bearish to Potential Reversal: The stock has been in a downward trend but shows signs of potential reversal with the price bouncing off lower support levels and the moving average line crossing above the price.
Price Consolidation: The price is currently consolidating around $258.00, indicating potential accumulation before the next move.
Suggested Trading Strategies:
Scalping:
Entry: Consider entering around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $260.00 (near-term resistance) or $265.00 if momentum continues.
Stop Loss: Place a stop loss below $249.89 to manage risk.
Intraday Trading:
Entry: Enter around $258.14 (current consolidation area) or on a pullback to $249.89 (POC and support level).
Exit: Target $265.00 (resistance level) or $271.00 if bullish momentum continues.
Stop Loss: Place a stop loss below $249.89.
Swing Trading:
Entry: Consider entering around $249.89 (POC and support level) or on a pullback to $241.10.
Exit: Target $265.00, $271.00, and potentially $280.00 if the bullish reversal is confirmed.
Stop Loss: Place a stop loss below $241.10 to manage risk.
Summary:
Support Levels: $249.89, $241.10, and $231.90
Resistance Levels: $258.14, $265.00, and $271.00
Scalping Entry/Exit: Enter around $258.14, exit around $260.00 or $265.00
Intraday Entry/Exit: Enter around $258.14 or $249.89, exit around $265.00 or $271.00
Swing Trading Entry/Exit: Enter around $249.89 or $241.10, exit around $265.00, $271.00, or higher
Use these levels as guides, and always consider current market conditions and news events before making trading decisions.
