1.
$Tesla Motors(TSLA)$ Trade idea: TSLA April 11 250C
Trigger: 239 β
Targets: 251,265 π―
Stop: 230 π
TSLA- closed at 239.43. TSLA dropped from 284 to 239 last week. TSLA under 239 can test 225,218 again. If TSLA can defend near 239 early this week we can see a bounce back up to 265 again. Calls can work above 239 if the market can hold up in this range. Puts can work under 232 ot 225. If TSLA breaks 218 this month it can drop to 200.
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2.
$NVIDIA(NVDA)$ Trade idea: NVDA April 11 93C
Trigger: 90 β
Targets: 97,100 π―
Stop: 88 π
NVDA- closed at 94.31. NVDA is down almost 40% since touching 153. If NVDA can dip one more time to 90 early this week and hold we can see a bounce to 97-100 this week. Calls can work near 90 for a bounce play. If NVDA breaks under 90 we can see 82,75. Puts can work under 90 later this week.
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3.
$S&P 500(.SPX)$ WEEKLY TRADE PLAN β
CALLS: SPX at 5000 SPX April 8 5100C Target 5100 π
PUTS: SPX under 5000 SPX April 8 4900P, Target 4900 π
SPX- closed at 5074.08. The Jan 4 2022 high for SPX is 4818. SPX is currently 256 points from this level. This is a key support level. If SPX fails to defend 5000 on Monday we can see one more dip to 4818.
This is an area I expect buyers to step in. SPX can bounce back up to 5272-5339 if It backtests 4818 and holds this level. This is an area to consider swing trading calls for a bigger bounce. If SPX breaks 4818, the next major support level is near 4600.
We will see quick rallies to the upside over the next 4-6 weeks but the trend remains to the downside. Be patient for now
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