Daily Tesla Trade Alert (1/12/24)

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After a down week last week, I expect Tesla to deliver more of the same.

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.

Trade Idea:

Price target: $205.78

Options Contract: 26 JAN 24 205 PUT