Started a small, long position in
$TSLA via some June $15 calls in
$TSLL (a solid 0.51 delta). The stock has pulled back from the recent rally, briefly dipping below the 100 & 200d SMAs, but holding on to the 20d. The 5/13 & 8/34 EMAs remain bullish, even with some technical indicators showing some weakness. I've also noticed pretty bullish options flow. However, a sustained break back below those key MAs would invalidate the
#bullish setup.
Support - $415-418 (50% FIb retracement of Dec - Apr swing & 5/13 & 8d EMAs), $395-410 (confluence of Fib retracements, MAs, & round number psych level), $381 (61.8% Fib retracement of Apr lows to recent swing high)
Resistance - $437 (61.8% Fib retracement of Dec - Apr swing), $450-454 (round number psych level, upper Bollinger Band, & recent swing high), $465 (78.6% Fib retracement)
#TSLA #TSLL $QQQ #QQQ $RIVN #RIVN #OptionsTrading #LongSetup #stockmarket #Fibonacci
ALT TSLA 6-month daily chart with MAs & technicals - MACD, RSI, AO, Stochastics
ALT TSLA 6 month daily chart with 5/13 EMAs, Fibonacci levels, & trend line support