If a security is trading in range, when it breaks out or breaks down, the general target is the height of the range. Looking at the weekly chart of AMEX:SPY , I see that it is no exception.
2018 - 2019 range breakout took it to pre-covid highs.
2020 Covid dip - Range breakout took it to 2021 - 2022 all time highs
2022 bear market - Took two almost...
NASDAQ:TSLA reached my earlier target
As it is at multiple levels of resistance (200 day EMA, 50% retracement of the down trend, previous support at around 220 now acting as resistance etc), I suspect it might retrace some of the up move. Here is my trade
Buy March 17 200 put
Sell March 17 185 put
Sell March 17 180 put
You can see the P/L...