How I see TSLA technically! 209! 160!
Price action (20 Jan 2024)
- Long term trend line rejecting bullish moves since Nov 2022
- Key range of 232/240 broken below
- Hovering around 209 weeks (multiple tests) ==> There is good reason why, relatively good support below 209 down to 160
- Next key range below is the previous 145/160
Bullish
- Has to re-test 232 and break it convincingly back to 244 and 255 and then break 300 for the trend reversal
Bearish
- Break of 209 of which all the "action" above 209 now becomes overhead supply (resistance to moves up)
My plays
With 209 down to 160 being a relatively good stronghold, I will be looking to sell puts strikes 180 down to 160) if 209 gets breached
And start nibbling when it gets below 200.
good luck, all!
TSLA Weekly Chart - 20 Jan 2024
@macroB @Deposit @melson @CaptainTiger @TigerStars @LMSunshine
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@melson @CaptainTiger @TigerStars @LMSunshine @macroB @Deposit