Daily Tesla Trade Alert (1/16/24

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Tesla sold off hard last week, and the 9 SMA is still below the 20, which is a bearish signal.

However, based on last week’s VWAP, I expect buyers to take advantage of the sell off to enter at a good price. So, Tesla should rise at least at the beginning of trading today.

Trade Idea:

Price Target: $221

Options Contract: 19 JAN 24 220 CALL