Daily Tesla Trade Alert (2/5/24)


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Let’s see what Tesla will do today.

On the daily, you can see that the 9-Day is still far below the 20-Day, which is bearish.

There’s also a bit of a resistance line (the sloping long line). And then at the bottom, there is a bit of a triangle. So, as of premarket, I think the price could go either way today. If the price action breaks out above the trend line and thus, out of the triangle, my plan would be to buy a call. But, if it breaks below the horizontal line of the triangle, then my plan would be to buy a put.

Trade Idea:

If price breaks out:

Price Target: $190

Options Contract: 9 FEB 24 $190 CALL

If price breaks below:

Price Target: $180

Options Contract: 9 FEB 24 $180 CALL



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