Tesla (TSLA) – Testing Critical Support Zones! Aug 21

Technical Analysis (1H Chart)
TSLA is currently trading near $324–325, bouncing after a sharp drop from the $340+ region.
* Trendline & Structure:
Price is still under a descending trendline, which acts as immediate resistance. To shift bullish, TSLA must reclaim $331–332 (prior support turned resistance).
* Support Zone:
Buyers stepped in around $317–320, which is now the short-term demand zone. Losing this could open downside into $312–315.
* Resistance Levels:
First key resistance: $331–332, followed by $340–344 if momentum extends.
* Indicators:
* MACD: Bearish but showing signs of flattening out, suggesting momentum slowdown.
* Stoch RSI: Deeply oversold earlier, now pushing higher → potential for short-term bounce.
Scenarios:
* Bullish: If TSLA breaks above $331–332, momentum could push toward $340–344.
* Bearish: Rejection under $331 likely leads to retests of $320–317, with risk extending to $312–315.

Options Sentiment / GEX (1H)

From the GEX chart:
* Call Walls / Resistance:
* 340–345: Heavy call resistance zone (64%+ concentration) → strong cap unless major momentum shift.
* 348–350: Extreme resistance (GEX9 level).
* Put Walls / Support:
* 325: Highest negative NET GEX (dealer hedging zone), acting as strong support magnet.
* 320 / 317.5: Stacked put walls, critical defense area.
* 315: 2nd major put wall — losing this level could accelerate downside.
GEX Bias:
* Market makers pinned TSLA between 325 support and 340 resistance.
* Upside capped unless 332 is broken; downside risk grows sharply if 317 fails.

Trade Thoughts & Suggestions
* Bullish Setup: Calls only make sense above 332 (target 340–344).
* Bearish Setup: Favor puts if price rejects under 331 or breaks below 320 (target 317, then 315).
* Neutral chop likely if TSLA stalls between 325–331.

Disclaimer: This analysis is for educational purposes only and not financial advice. Trade at your own risk.