Support / Resistance đđ:
Support: $425, $422?, $411-414
Resistance: $429, $435, $440
Outlook đ:
TSLA broke above $429 and even $435 price level earlier before harshly rejected at around $435 when overall market dipped slightly back to below $425.
If TSLA manage to hold $425 line, then we should be able to revert back to upside towards $429 then back to $435. Else, if TSLA rejects at $429, then watch for short term downside towards support level at $425 and then $422.
Target đ¯:
Entered this Cash Secured Put position when TSLA is trading around $426~ yesterday, with the view that TSLA may potentially break $429 and hold.
Target to exit within 15-30% profit range, stop-loss around the same %. May consider holding position longer if TSLA has some bullish momentum again.
*note to not follow my stop-loss % as I have larger risk appetite.
Trade safe, Tiger friends! [666]
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