Yesterday, our Tesla calls hit a 202% gain in about 1 hour! Not too shabby.
But let’s see what Tesla shall do today.
![](https://tradersalley.com/wp-content/uploads/2024/01/TSLA_2024-01-17_09-18-21-1024x728.png)
Yesterday, Tesla pushed up hard from its lows, before dropping back down. You can see the buying pressure represented by that top wick. A decent amount of volume to accompany the push higher as well/
The 9-period is still below the 20, which is a bearish signal. Let’s go to intraday chart.
![](https://tradersalley.com/wp-content/uploads/2024/01/TSLA_2024-01-17_09-20-59-1024x728.png)
Here, the price hovered around the VWAP towards the end of yesterday’s trading session. What’s more, on this intraday chart, the 9 period crossed over the 20. So, a bullish signal. In terms of news, Elon is asking to own at least 25% of Tesla in order for him to feel comfortable implementing AI in Tesla vehicles. Most likely, he’ll get it. I believe he owns about 13% right now. Also, Uber is apparently working with Tesla to promote the use of electric vehicles among drivers. I tried to look up details on this, but little exists beyond a milquetoast press release. That being said, I believe Tesla will continue to rise today, based on the chart setups.
Trade Idea:
Price Target: $223.50
Options Contract: 19 JAN 24 223.33 CALL