$Tesla Motors(TSLA)$ $GraniteShares 1.25X Long TSLA Daily ETF(TSL)$ $Direxion Daily TSLA Bull 2X Shares(TSLL)$
✨🚗⚡ Tesla’s $230 Showdown: Can AI Power the Breakout? ⚡🚗✨
Kia ora Tiger traders!
Tesla’s pre-market price is showing a slight dip to 225.95 (-0.10%), but this is nothing more than a bump in the road! With October 10th’s Robotaxi launch on the horizon, Tesla is positioning itself for a major breakout. 🚀💥
📊 Key Fibonacci Levels:
• 67.20% Fib Resistance: 226.71
• 50% Fib Support: 222.37
• Psychological Barrier: 230
Tesla has held its Ichimoku Cloud support at 225.01 like a pro. If we see a break above 226.71, expect the bulls to take the wheel and push Tesla back to 230 and beyond. 🔥 This is the moment to keep an eye on trading volume and watch for that next breakout.
🛠 Pivot Points to Watch Today:
• With a pre-market touch off the Daily Pivot at 223.22, a test of Daily R1 at 229.93 seems certain.
• However, the Weekly R1 at 228.49 will provide some resistance first before Tesla tries to push through to 230 and beyond.
💡 Price Target for the Rebound?
With Morgan Stanley holding a bullish target of 310, there’s no slowing down. Tesla’s innovations in autonomous driving and AI give traders a unique opportunity to capitalise on the upcoming momentum. ⚡
🟢 Top Trading Strategies:
• Ichimoku Cloud Support: Held strong at 225.01, indicating bullish momentum.
• Fibonacci Levels: The 67.20% Fib retracement at 226.71 is the key breakout zone to watch.
• Pivot Points: A bounce off the Daily Pivot at 223.22 suggests Tesla is eyeing a run toward 229.93, with Weekly R1 at 228.49 providing intermediate resistance.
🔥 Top Analyst Insight:
“Tesla is pioneering in disruptive technologies like AI and autonomous driving, putting it on track for exponential growth,” says Adam Jonas, a lead analyst at Morgan Stanley.
Hey Tiger Traders, is Tesla shifting into high gear, or will we need a pit stop before hitting new highs? 🚗💨
TigerGPT: Could the Robotaxi event launch Tesla past the 67.20% Fib level and break through 230, or will resistance at Weekly R1 keep us in check@TigerGPT
Happy trading ahead. Cheers, BC 🍀
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According to the available news, here are the key points affecting the movement of Tesla's stock (TSLA) on September 12, 2024:
Bull Put Spread Trade: Tesla broke above the 50-day moving average and received a new buy rating from Deutsche Bank with a price target of $295. Traders who are willing to bet that Tesla will stay above $200 for the next few weeks could consider a bull put spread trade. This defined-risk strategy could generate a 25% return in four weeks if Tesla remains above $200 at expiration. However, options trading carries risks, and investors can lose 100% of their investment. Source: Option Witch | Tesla Bull Put Spread Could Return 25% In Four Weeks
Range-bound Trading: Tesla shares have been volatile and range-bound for weeks. Investors are waiting for a significant breakout above $250 or a drop below $200 before changing their views. Until then, the stock may continue to experience limited movements. Source: Tesla Stock Is Falling. What's Moving Shares. -- Barrons.com
Leveraged TSLA ETF: The Direxion Daily TSLA Bull 2X Shares (TSLL) surged over 5% in pre-market trading, reflecting heightened expectations surrounding several upcoming events and developments related to Tesla. One anticipated event is Tesla's Q3 delivery numbers. Source: Stock Track | Tesla Buzz Fuels Rally in Leveraged TSLA ETF Ahead of Key Events
Buy Rating and Price Target: Deutsche Bank analyst Edison Yu initiated coverage of Tesla stock with a Buy rating and a $295 price target, which is one of the higher price targets on Wall Street. The average analyst price target for Tesla stock is around $218, while the highest is Morgan Stanley analyst Adam Jonas's $310 target price. Yu believes that Tesla is in a league of its own as a technology platform attempting to reshape multiple industries. Source: Tesla Stock Is Rising. A New Bull Says the EV Maker Is in 'A League of Its Own.' -- Barrons.com
Considering the above factors, it appears that Tesla's stock is influenced by a combination of analyst ratings, trading strategies, market sentiment, and upcoming events such as delivery numbers. The stock's range-bound trading reflects a wait-and-see approach from investors. It's important to note that stock movements are subject to various factors and market volatility.
Risk Disclaimer: The information provided is for reference purposes only and does not constitute investment advice. Trading stocks and options involves risks, and individuals should conduct thorough research and consider their own risk tolerance before making any investment decisions.
Happy trading!