TSLA has been predictable so far; Testing 232/240 range again as support!
As expected so far
- When MA5 cross below MA20, it is "bearish" and will likely test lower bollinger band ==> can be seen that did happen Mon and Wed
- Lower Bollinger band has started to tick downwards with MA5 coming down too
Few very key levels to watch
- Bullish plays ==> Stays above 240 and breaks above MA5 (247) and MA20 (255/256) which would then mean MA5 crossing above MA20 and then it might test upper Bollinger Band 280
- Bearish plays ==> Continued MA5 rejection will see it follow lower Bollinger Band to test 219 (assuming strong 232 does not hold)
==> If it does go 219, then 209 is super likely and down to 190
My plays
- Hold on to my sold puts strikes 190
- Will sell new puts if only it holds above 232 on test
- Will sell upper strangle calls when it tests and get rejected by MA20 at 255 (possible strike 280 or higher)
Good luck, all!
TSLA - Daily (left) 30mins (right)
@macroB @Deposit @melson @CaptainTiger @LMSunshine @TigerStars
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Shares of TSLA are up 125% year-to-date. Unfortunately, the investment reality is Tesla is still down 40% from its high of $407.36 Oct. 25, 2021
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Strong buy. CyberTruck, model 2 coming. Ford/GM, cannibalizing their ICE business to compete in EV can’t get their act together. And there is DOJO.AI, robotics and energy.
This is the most consequential company of our time and the upcoming catalysts over the next few years will propel this stock to multiple new highs.
Absurd to put a Sell on TSLA. Love or hate the company and its mega-rock star leader, it is a Buy - for investors.
Thankfully someone is being realistic about the bloated stock price of tesla