Daily Tesla Trade Alert (1/31/24)

Tesla is notching up bit by bit. I expect this movement to continue this week, especially with both Google and Microsoft beating their earnings guidance yesterday. The entire tech sector could drift higher. But what do the charts say?

Yesterday, the price action drifted below the VWAP median line. This signals that buying pressure could start at open.

Meanwhile, on the daily, you can see that Tesla is forming a nice little run after a week of lower lows.

So, I think the move today is call again

Trade Idea:

Price Target: $200

Options Contract: Feb 2 2024 $197.5 Call