TSLA support zone 365 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 14:16 ET, TSLA traded at 371.41, 1.8% above the support zone. On the same map, the next level above was 385 and the next level below was 350. See the original post.

Price never closed a 5-minute bar on the wrong side of the support zone. Its closest approach was 2.74 away (367.74); the session range was 367.74 to 382.70. In the last hour price moved up 10.24, from 372.46 to 382.70.

The regular-session close was 370.70, 5.70 (1.56%) above the support zone at 365. Under the rule (support zone: close above is a hit), that is a hit.

Tesla reported third-quarter deliveries of 486,532 vehicles, above expectations. TSLA finished the day up 4.7%, while SPY was up 0.7%.

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