Support / Resistance đđ:
Support: $449-$455, $440, $435
Resistance: $463-$465, $474, $483
Outlook đ:
TSLA opened below $474, and got rejected at $463, thus foresee more downside momentum towards $449-$455. If TSLA fails to hold $453, we may see more downside movement. If TSLA is able to hold $453, then watch if its able to break $463-$465 or if it will be another rejection level again.
Target đ¯:
Entered this Covered Call position when TSLA was trading around $462 price level. Since TSLA is already opened below $465 when market opened, expecting more short term downside movement for TSLA towards $449-$453.
As shared, target to exit this Covered Call position at 15-30% profit, or $100 profit (with stop-loss at same % or $ level), or when TSLA approach near $449-$453. Exited my position with a small profit when TSLA trading back at $453 price level. Could've held the position longer but will not be greedy in this market condition.
Overall market is still weak which is why I have some confidence that this Options scalp position will play out.
Happy with the profits secured.
Trade safe, Tiger friends! [Allin]
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