TSLA at a Critical Level! Bullish Momentum or Resistance Breakou

Price Action Analysis
* Current Price: $401.00 (Ask)
* TSLA is trading within a consolidation zone near $400. Recent price action suggests indecision, as the stock tested resistance at $413 but failed to sustain momentum.

* Key Support Levels:
* $395: Immediate support, aligning with previous consolidation zones.
* $378.85: A stronger level that could act as a potential demand zone if the price breaks lower.

* Key Resistance Levels:
* $413: Immediate resistance. A breakout above could signal a bullish continuation.
* $420.73: The next critical level for bullish momentum.

Indicators
* MACD: Flattening near the signal line, indicating a lack of momentum but suggesting a potential bullish crossover.
* Stochastic RSI: Neutral at 52.77, suggesting a balanced condition. A cross above 70 could confirm momentum.

GEX Analysis and Option Sentiment

* Gamma Exposure (GEX): 93.2% calls, suggesting a bullish sentiment in the options market.
* High Positive NETGEX Level: $420 (Gamma Wall) serves as a strong resistance point.
* Key GEX Levels:
* $450: Strong CALL wall, potential upside target.
* $365: PUT support, strong demand zone.

Trading Plan
Scenario 1: Bullish Breakout
* Entry: Above $413
* Target 1: $420
* Target 2: $430
* Stop Loss: Below $395

Scenario 2: Bearish Rejection
* Entry: Below $395
* Target 1: $378
* Target 2: $365
* Stop Loss: Above $413

Option Strategy
1. Bullish:
* Calls: Buy $420 Calls (expiration within 2 weeks).
* Target premium growth if TSLA breaks $413 convincingly.

2. Bearish:
* Puts: Buy $380 Puts (expiration within 2 weeks).
* Target profits if price breaks $395.

My Thoughts
Tesla is poised for a significant move. The consolidation near $400 suggests that the next breakout or rejection will dictate the short-term direction. With GEX supporting a bullish case, $420 remains a critical target. However, a failure to hold $395 could bring a bearish wave.

Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Market conditions may vary at premarket open. Traders are advised to adjust strategies accordingly. For questions, please PM me!