Today, Tesla releases its updated Tesla 3 model in North America. The stock is up premarket on the release news.
On the chart, the 9 SMA is still below the 20, so a bearish signal there.
Volume was high yesterday, and we see the wick extending to the downside. Meaning there was selling pressure that was eventually overcome by the bulls.
On intraday VWAP, Tesla was right around the middle.
This means that Tesla could be very choppy after open. Honestly, not a good trading day in my opinion.
However, if i had to trade like my life depended on it, here’s what I would do.
Trade Idea
Buy Limit: $236.14
Options Contract: 19 JAN 2024 $236.67 CALL
To Better Trading,
Alex @ Trader’s Alley