Tesla, Apple, and AMD: Key Trade Opportunities After Selloff

Markets plunged today, driven by tariff uncertainty and fears of more negative economic data, including non-farm payrolls and the Fed Chair Powell’s upcoming speech. With many assets at critical support or resistance levels, traders have opportunities for both long and short setups.

In this breakdown, we’ll analyze Tesla (TSLA), Apple (AAPL), AMD, Occidental Petroleum (OXY), and Intel (INTC) for actionable trade levels.

🗓 What’s Moving the Market?

Key Catalysts for Friday, April 4th:

• Non-Farm Payrolls and Unemployment Data (8:30 AM ET):
  A disappointing number could accelerate today’s market negative momentum, driving stocks lower.

• Fed Chair Powell Speech (Midday):
  Traders will listen closely for signs of rate cuts or persistence in tightening policies. Any indications of continued hawkishness could intensify selling pressure.

Broader Market Sentiment:

• Mixed Defensive Strength: Consumer non-durables held up, but most sectors saw broad weakness. Tech was particularly hard-hit, with Apple, AMD, and semiconductors leading the decline.

• Tariff Fallout: Announcement of reciprocal tariffs on imported goods, even on smaller trade partners, has rattled markets. Countries like China, EU nations, and Vietnam face steep new tariffs, with rumors of retaliation fueling uncertainty.

🔥 Top Trade Ideas and Key Levels

1. Tesla ( $TSLA ( ▲ 0.43% )  ) - Decision Point at $270

Tesla showed relative strength intraday, remaining range-bound despite broader selloffs. The stock is compressing into a tighter wedge, creating clear breakout opportunities in either direction.

Key Levels:

• Support: $270. If this fails, look to $267 and $265 for the next potential downside support areas.

• Resistance: Immediate resistance lies at $275, with subsequent levels at $277, $280, and $285.

Trade Plan:

• Bullish Setup: Long near $270 support. If the level holds, target $275-$277.

• Bearish Setup: Short below $270 on a confirmed breakdown, with targets at $267 and $265.

Tesla is forming higher lows and lower highs, with compression likely to break tomorrow. Keep both setups in mind—watch closely!

2. Apple ( $AAPL ( ▼ 0.24% )  ) - Volatility Between $200 and $204

Apple closed just above $200, a crucial psychological level, after being short-sell restricted today. Its exposure to China’s tariffs makes AAPL particularly vulnerable, as diversifying manufacturing isn’t enough to avoid the impact.

Key Levels:

• Support: $200. A breakdown here could lead to further losses, with downside targets at $197 and $194.

• Resistance: $204. This level saw resistance during mid-session trading and acts as the pivot for bullish momentum.

Trade Plan:

• Bullish Setup: Long above $204 for scalps toward $207.

• Bearish Setup: Short on a break of $200, targeting $197 and scaling profits lower. A bad jobs report could make this setup more probable.

3. Advanced Micro Devices ( $AMD ( ▲ 0.15% )  ) - Can $93 Hold?

AMD is sitting on a fragile support level near $93, with today’s close threatening continuation to the downside. Semiconductor weakness from broader tariff-related fears adds more pressure to the stock.

Key Levels:

• Support: $93 is the critical level to hold. A breach here puts $90 and $87 into play.

• Resistance: $95 serves as the immediate upside target if buyers defend $93.

Trade Plan:

• Bullish Setup: Long if $93 support holds, targeting quick moves toward $95.

• Bearish Setup: Short below $93 with targets at $90 and $87.

AMD's intraday consolidation signals that $93 will be pivotal for its next move. Watch closely for direction.

4. Occidental Petroleum ( $OXY ( ▲ 0.83% )  ) - $45 Retest for Potential Shorts

OXY broke through $45 support, closing near $43, a level not seen since March 2022. Weak oil prices and global tariff concerns have weighed heavily on energy stocks, and further downside is possible.

Key Levels:

• Support: $43, with additional downside targets at $41 if selling pressure persists.

• Resistance: $45 remains the level to reclaim for any reversal attempts.

Trade Plan:

• Bearish Setup: Look to short near $45 retests, targeting a return to $43 or lower.

• Bullish Setup: A clean breakout above $45 (with confirmation) could provide short-lived upside to $46-$47.

5. Intel ( $INTC ( ▼ 0.59% )  ) - Strong Rebound Toward $23.50

After announcing a joint venture with TSMC, Intel rallied sharply, bucking broader market trends. The move pushed the stock into an important resistance zone near $23.50 (200-period moving average on the daily).

Key Levels:

• Support: $22 must hold for continued strength.

• Resistance: Watch $23.50 carefully—it aligns with the 200 SMA and could cap further gains.

Trade Plan:

• Bullish Setup: Long between $22-$22.50, targeting $23.50.

• Bearish Setup: If $23.50 rejects, consider shorts for a pullback toward $22.

If broader markets recover, INTC’s relative strength could make it a standout performer.

📉 Actionable Insights for Tomorrow

1. Be Cautious of Jobs Data:
   Non-farm payrolls and unemployment numbers could set the tone for the session. Negativity here could drive markets lower, with risk-off sentiment dominating.

2. Focus on Key Levels:
   Several stocks (AAPL, AMD, TSLA) are nearing critical support or resistance. Be patient and wait for confirmation before committing to trades, don't force setups.

3. Watch for Weekend Effects:
   With Powell’s speech and lingering macro uncertainty, traders may avoid holding through the weekend, adding pressure to positions late in the session.

🚨 Final Thoughts

The market is at a crossroads, with high volatility opening opportunities for both bullish and bearish trades. Focus on the levels outlined above and stay disciplined, manage your risk carefully and let the setups come to you.