Tesla $TSLA Trading Plan After Breaking Below 390 and Testing 377
The stock and overnight session plunged more than 7% from a high of 409, breaking below the key 390 neckline and triggering a cascade of long-position stop-losses. The session low was 377.46, reached on a sharp, high-volume dip. The order book has just printed a high-volume candle with a long lower wick near 378, forming a potential second bottom. Selling pressure from the bears appears largely exhausted, making a short-term countertrend rebound an attractive risk/reward setup.
Key levels:
- Entry: 382.00–384.00 (a pullback to the 15-minute high-volume breakout base and moving-average support; wait for volume to contract and a lower wick to form, then place staggered limit orders)
- Stop-loss: 376.50 (exit decisively if price breaks below the previous low support at 377; cap the maximum drawdown at 2%)
- Take-profit target: 390.00–392.00 (take half off at the prior breakdown neckline on the rebound to protect capital); if price holds above that level, look toward 398.00
When trying to catch a rebound early, avoid taking an oversized position and stubbornly holding on. If the bottoming structure breaks down, admit the mistake and exit decisively.
$TSLA #TradFi #USStocks
The stock and overnight session plunged more than 7% from a high of 409, breaking below the key 390 neckline and triggering a cascade of long-position stop-losses. The session low was 377.46, reached on a sharp, high-volume dip. The order book has just printed a high-volume candle with a long lower wick near 378, forming a potential second bottom. Selling pressure from the bears appears largely exhausted, making a short-term countertrend rebound an attractive risk/reward setup.
Key levels:
- Entry: 382.00–384.00 (a pullback to the 15-minute high-volume breakout base and moving-average support; wait for volume to contract and a lower wick to form, then place staggered limit orders)
- Stop-loss: 376.50 (exit decisively if price breaks below the previous low support at 377; cap the maximum drawdown at 2%)
- Take-profit target: 390.00–392.00 (take half off at the prior breakdown neckline on the rebound to protect capital); if price holds above that level, look toward 398.00
When trying to catch a rebound early, avoid taking an oversized position and stubbornly holding on. If the bottoming structure breaks down, admit the mistake and exit decisively.
$TSLA #TradFi #USStocks