Well well well... TSLA may just not be a dead cat bounce like the first time.
As we see, it got eaten up at daily demand and skyrocketed almost right through daily supply but pretty much instantly got rejected.
The way I have been playing this is by taking puts every time it enters in daily supply and guess what... just about 100% of the time I have been able to profit on every single play. (weird brag i know)
Anyway, I am overall bullish on TSLA, especially with the market as a whole recovering but in the short term I would seriously suggest to wait until TSLA clears this daily supply to enter into any longs.
Now on a technical stand point, we have bounced off the diagonal trend line which may mean we will be heading back down towards 600 in the coming weeks...I hope im wrong though but either I will make money so it don't really matter.
TDLR:
We break over 1D SUPPLY and trendline we have free room to 800+
If we cannot break 1D SUPPLY and fall below 677 (support)...we might freefall back to the lower 600 range:/
Trade accordingly!
As we see, it got eaten up at daily demand and skyrocketed almost right through daily supply but pretty much instantly got rejected.
The way I have been playing this is by taking puts every time it enters in daily supply and guess what... just about 100% of the time I have been able to profit on every single play. (weird brag i know)
Anyway, I am overall bullish on TSLA, especially with the market as a whole recovering but in the short term I would seriously suggest to wait until TSLA clears this daily supply to enter into any longs.
Now on a technical stand point, we have bounced off the diagonal trend line which may mean we will be heading back down towards 600 in the coming weeks...I hope im wrong though but either I will make money so it don't really matter.
TDLR:
We break over 1D SUPPLY and trendline we have free room to 800+
If we cannot break 1D SUPPLY and fall below 677 (support)...we might freefall back to the lower 600 range:/
Trade accordingly!
Trade active:
TSLA closed under 677 support which is most likely a sign that we will be seeing low 600s again before continuing past 700.
Just strictly following technicals here
Just strictly following technicals here
