TSLA Consolidation Breakout or Breakdown? Key Levels to Watch

Technical Analysis:
* Trend Analysis: TSLA appears to be in a consolidation phase, trading within a rising wedge pattern. This signals potential for either a breakout or breakdown depending on market momentum.

* Volume: Volume has been declining, suggesting reduced conviction in the recent price movement.

* MACD: The MACD line is below the signal line, signaling bearish momentum.

* Stoch RSI: The oscillator is moving into oversold territory, potentially indicating a bounce soon if demand picks up.

Key Levels to Watch:
* Support Levels:
* $405: Immediate support level coinciding with recent price action.
* $380: Stronger support if the wedge breaks downward.

* Resistance Levels:
* $440: First significant resistance.
* $480: Critical gamma resistance wall.

Trade Scenarios:
* Bullish Scenario:
* Entry: $410
* Target 1: $440
* Target 2: $480
* Stop Loss: $395

* Bearish Scenario:
* Entry: $405
* Target 1: $380
* Target 2: $350
* Stop Loss: $420

GEX (Gamma Exposure) Insights for Options:

* Call Wall:
* $440: 94.99% of GEX concentration, making this the primary resistance level.

* Put Support:
* $380: High concentration of puts, indicating strong support if prices test this level.

* IVR (Implied Volatility Rank):
* 54.3: High implied volatility, making options premium-rich for selling strategies.

* Directional Bias: Neutral with a slightly bearish lean due to the MACD crossover and wedge pattern.

Actionable Suggestions:
1. Consider selling options (e.g., iron condors) to capitalize on premium from TSLA’s high IV.
2. Watch for price action near the $405 level for a potential breakdown or bounce.
3. Avoid over-leveraging as volatility remains elevated.

Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence before trading.