Significant downward buying pressure was resisted by the bulls yesterday. You can see this fight in the wick extending below the candlestick body. I read this as sellers were trying to push price down farther, but the buyers were able to resist. This could signal a turnaround in the price action.
This, combined with the intraday spike above the VWAP as shown below, signals to me that the buyers are going to come in hot on Tesla today.
Trade Idea:
Price Target: $220
Options Contract: 19 JAN 24 220 CALL