TSLA Technical Analysis and GEX Option Insights - Jan. 3

Price Action Analysis
Tesla (TSLA) continues to demonstrate high volatility, trading within a range defined by critical support and resistance levels. The stock recently attempted to breach the $420 resistance but faced rejection, with current trading levels near $402. Downward momentum is building, indicated by increasing selling pressure and key technical signals.

Key Levels to Watch
Resistance Zones:
$420: Key resistance and gamma wall; a break here may signal bullish continuation.
$439.74: Strong resistance; clearing this level could open up room for higher targets.

Support Zones:
$390: Current pivot point; crucial to hold for near-term stability.
$365: Strong gamma support; breach could lead to accelerated downside.

Indicator Analysis
MACD: Bearish crossover; signals momentum is shifting to the downside.

Stochastic RSI: Bearish divergence; suggests overbought conditions cooling off.

Volume: Consistent selling pressure with below-average buying strength.

GEX (Gamma Exposure) Insights

Call Walls:
$420: 82.24% gamma resistance; significant seller activity expected here.
$450: Major overhead resistance with high call concentration.

Put Walls:
$390: 30.32% support level.
$365: Strong gamma support and capitulation level.

Scenarios
Bullish:
Break above $420 with sustained volume.
Target upside levels at $430 and $450.

Bearish:
Breach of $390 could trigger selling toward $365 and $350.

Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a financial advisor before making any trading decisions.