After a down week last week, I expect Tesla to deliver more of the same.
![](https://tradersalley.com/wp-content/uploads/2024/01/TSLA_2024-01-22_09-20-11-1024x728.png)
On the daily chart, the 9-day SMA is still well below the 20. Let’s not fight the trend shall we?
And on the intraday chart, this thesis is borne out even more — the price finished at the top range of the VWAP on Friday, which sets up a potential retracement.
![](https://tradersalley.com/wp-content/uploads/2024/01/TSLA_2024-01-22_09-19-19-1024x728.png)
Trade Idea:
Price target: $205.78
Options Contract: 26 JAN 24 205 PUT