TSLA Technical Analysis (TA) and GEX Analysis Dec. 18
1. Overview of Market Structure:
* TSLA is in a strong uptrend on the 1-hour and 30-minute timeframes, consistently making higher highs and higher lows.
30-minute timeframes,
* The stock currently shows minor consolidation near 471 levels after a sharp upward move.
* A corrective pullback is evident on the shorter timeframes as the price tests support levels.
2. Key Support and Resistance Levels:
* Resistance:
* 483.99: Recent high acting as strong short-term resistance.
* 490 - 500: GEX levels highlight potential call wall resistance where significant gamma is positioned.
* Support:
* 464: Immediate support on the 1-hour chart (trendline support).
* 440: Secondary support level, reinforced by GEX 2nd Call Wall and technical significance.
3. Price Action Insights:
* TSLA has been trading within an upward channel visible on the 1-hour chart.
* Bearish divergence in MACD on the shorter timeframes (30 min and 1 hr) suggests potential short-term weakness.
* A breakdown below the trendline support at 464 could trigger a pullback toward the next major support at 440.
4. GEX (Gamma Exposure) Insights:
* Key GEX Levels:
* 500: 2nd major CALL Wall indicating strong gamma resistance.
* 470-480: High gamma concentration zone, which may cause price stickiness in this range.
* 450-440: Gamma support zone (31.61% CALL Wall).
* 410-425: Significant PUT walls that could act as downside targets if the price reverses sharply.
* Options Oscillator:
* Calls dominate the sentiment with 126.2% CALL GEX indicating strong bullish activity.
* IVR is at 105.6, reflecting elevated implied volatility and significant short-term options activity.
5. MACD and Volume Analysis:
* MACD:
* On the 1-hour chart, the MACD shows bearish momentum building with a crossover. This indicates potential downside pressure.
* On the 30-minute chart, MACD reflects consolidation as price corrects after a sharp upward rally.
* Volume:
* Volume spikes during the upward movement but fades during pullbacks, suggesting the retracement is likely a healthy correction rather than a trend reversal.
6. Trade Setups:
Scalp Trade:
* Bullish Setup:
* Entry: Above 473 with volume confirmation.
* Target: 480 and 483.
* Stop-loss: Below 470.
* Bearish Setup:
* Entry: Below 470 if the trendline breaks.
* Target: 464 and 450.
* Stop-loss: Above 472.
Swing/Day Trade:
* Bullish Scenario:
* Buy near support at 464-470 range with a target of 480 and 490.
* Stop-loss: Below 464.
* Bearish Scenario:
* Sell if the price breaks below 464.
* Target: 450 and 440.
* Stop-loss: Above 470.
7. Likely Direction:
* Bullish Bias remains intact as long as TSLA holds the upward trendline support near 464.
* Short-term consolidation between 470-480 may persist due to gamma stickiness in this range.
* Watch for price action around 470 for breakout or breakdown signals.
8. Actionable Suggestions:
* Scalp Buyers: Look for entries above 473 with tight stops.
* Swing Traders: Monitor the 464-470 support zone for potential buying opportunities.
* Put Sellers: Consider selling puts at 450 or 440 for premium income as gamma support builds near these levels.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your research and manage risk before trading.
* TSLA is in a strong uptrend on the 1-hour and 30-minute timeframes, consistently making higher highs and higher lows.
30-minute timeframes,
* The stock currently shows minor consolidation near 471 levels after a sharp upward move.
* A corrective pullback is evident on the shorter timeframes as the price tests support levels.
2. Key Support and Resistance Levels:
* Resistance:
* 483.99: Recent high acting as strong short-term resistance.
* 490 - 500: GEX levels highlight potential call wall resistance where significant gamma is positioned.
* Support:
* 464: Immediate support on the 1-hour chart (trendline support).
* 440: Secondary support level, reinforced by GEX 2nd Call Wall and technical significance.
3. Price Action Insights:
* TSLA has been trading within an upward channel visible on the 1-hour chart.
* Bearish divergence in MACD on the shorter timeframes (30 min and 1 hr) suggests potential short-term weakness.
* A breakdown below the trendline support at 464 could trigger a pullback toward the next major support at 440.
4. GEX (Gamma Exposure) Insights:
* Key GEX Levels:
* 500: 2nd major CALL Wall indicating strong gamma resistance.
* 470-480: High gamma concentration zone, which may cause price stickiness in this range.
* 450-440: Gamma support zone (31.61% CALL Wall).
* 410-425: Significant PUT walls that could act as downside targets if the price reverses sharply.
* Options Oscillator:
* Calls dominate the sentiment with 126.2% CALL GEX indicating strong bullish activity.
* IVR is at 105.6, reflecting elevated implied volatility and significant short-term options activity.
5. MACD and Volume Analysis:
* MACD:
* On the 1-hour chart, the MACD shows bearish momentum building with a crossover. This indicates potential downside pressure.
* On the 30-minute chart, MACD reflects consolidation as price corrects after a sharp upward rally.
* Volume:
* Volume spikes during the upward movement but fades during pullbacks, suggesting the retracement is likely a healthy correction rather than a trend reversal.
6. Trade Setups:
Scalp Trade:
* Bullish Setup:
* Entry: Above 473 with volume confirmation.
* Target: 480 and 483.
* Stop-loss: Below 470.
* Bearish Setup:
* Entry: Below 470 if the trendline breaks.
* Target: 464 and 450.
* Stop-loss: Above 472.
Swing/Day Trade:
* Bullish Scenario:
* Buy near support at 464-470 range with a target of 480 and 490.
* Stop-loss: Below 464.
* Bearish Scenario:
* Sell if the price breaks below 464.
* Target: 450 and 440.
* Stop-loss: Above 470.
7. Likely Direction:
* Bullish Bias remains intact as long as TSLA holds the upward trendline support near 464.
* Short-term consolidation between 470-480 may persist due to gamma stickiness in this range.
* Watch for price action around 470 for breakout or breakdown signals.
8. Actionable Suggestions:
* Scalp Buyers: Look for entries above 473 with tight stops.
* Swing Traders: Monitor the 464-470 support zone for potential buying opportunities.
* Put Sellers: Consider selling puts at 450 or 440 for premium income as gamma support builds near these levels.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your research and manage risk before trading.
Disclaimer
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