Tesla is overbought

11 Ara

Tesla is overbought. This is a 5 year view on TSLA 1 week chart. TSLA stochastic indicator is overbought with a close today of 99.95 K line and 96.42 D line. I got the average trajectory channel using the regression trend drawing tool. Then I color coded the channel with red being major resistance and green being major support. Also, TSLA closed with it's all time high today at 425. I'm posting this as a short because there's a greater downside risk than an upside reward now. At some point in the next few weeks, gravity will overcome momentum.

TSLA options data:
12/20/24 expiry
Put Volume Total 168,582
Call Volume Total 314,428
Put/Call Volume Ratio 0.54
Put Open Interest Total 591,885
Call Open Interest Total 550,113
Put/Call Open Interest Ratio 1.08

1/17/25 expiry
Put Volume Total 109,436
Call Volume Total 159,467
Put/Call Volume Ratio 0.69
Put Open Interest Total 1,058,948
Call Open Interest Total 989,464
Put/Call Open Interest Ratio 1.07

2/21/25 expiry
Put Volume Total 13,715
Call Volume Total 34,291
Put/Call Volume Ratio 0.40
Put Open Interest Total 149,526
Call Open Interest Total 233,165
Put/Call Open Interest Ratio 0.64