Like NFLX TSLA is also
on the move to the upside ahead of the FOMC rate decision and if holding above 255s/54s TSLA has potential to reach 265s/66s then 270s pre-FOMC. If so and if Long TSLA the 270s target is the
spot (if reached) to consider scaling some profits &/or getting some protection on to protect profits via short-term Puts.
The TSLA Daily
+3Sigma target is currently at 277s but
unlikely to get achieved before FOMC tomorrow which is why the need for protection
might be needed at or just below 270s
if the rate decision does not favor more upside for the overall market.
If below 255s/54s
either pre or post FOMC rate decision the line in sand (LIS) for TSLA
is at 248s-243s zone which includes
Daily center Sigma and is a must hold in order to have chance of reaching the +3Sigma
target at 277s post FOMC.
Ethan
Premock
Futures & Options Strategist Hamzei
Analytics, LLC