DailyPlay – Opening Trade (TSLA) – October 22, 2024
TSLA Bearish Opening Trade Signal Investment Rationale...
Read MoreWe get a double whammy today with CPI at 8:30AM and Fed decision at 2PM EST. Expectations are for inflation to continue to improve towards the Fed’s 2% target and for the Fed to keep interest rates steady. However, what will likely move markets will be the language from Chairman Powell’s speech or if we get a surprise from the CPI print. With such potential volatility today, we will continue to hold our DailyPlay positions that have continued to improve nicely.
Bullish Credit Spread – Earnings are slated for Thursday PM and now sitting just above its $460 support, will consider closing before earnings event.
Bearish Debit Spread – Just broke below its key $140 major support with poor relative performance, we’re targeting low $120’s on further downside.
Bearish Debit Spread – Starting to break above its $335 resistance level, further upside would warrant cutting losses on this trade.
Bearish Debit Spread – Now within $1 of filling its gap at $50.60, with extended targets of $47 to the downside.
Bullish Debit Spread – Sitting just above below our $96 support/resistance, looking for a continuation towards $100 upside target.
Bearish Debit Spread – We’re looking for a continuation lower towards our $400 support and a breakdown to the $390 downside target.
TSLA Bearish Opening Trade Signal Investment Rationale...
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