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