Daily Tesla Trade Alert (01/09/24)

Tesla had a strong day yesterday after a week of losses.

Despite this, the 9-Day SMA is still crossing over the 20 – a bearish signal.

Not only that, but on the intraday chart, we can see that Tesla pushed way over the VWAP. I expect the market makers to use this as a sell off point, which will push Tesla’s price closer to the mean.

I’m looking for Tesla to break to the downside today.

Trade Idea:

Price Target: $238.45

Options Contract: 12 JAN 24 237.5 CALL

To Better Trading,

Alex @ Trader’s Alley