Telsa Stock's Freight Train Run About To Make a Stop?

The price of Tesla soared in the month of January after bottoming out and continues to do so the first week of February.

It has been quite the run, one in which I took advantage of but not nearly to the extent I could have. Oh well, green is green in the end.

The one thing that has been missing on the stock's recent run higher though is any true resistance points. As in, the $200 area was basically my upside target from the jump.

And now we find ourselves there...

Looking at the daily chart above you can see I drew a blue trendline to point out the resistance area. There are two prior tops there that followed the previous bounce as support.

It has all the makings of a clear level that currently identifies as resistance.

Does it mean price will fall here, of course not. It does mean that if there was an area for a pullback or consolidation after a big run....then this is the most obvious.

My long options position is closed, given it was capped out on potential profit many price levels ago, but the shares I scooped up are in a great position.

I'm hoping for a pull back as a chance to re-enter some long call positions that I can sell short-term options against for income.

The way this stock is running don't know if I will get a chance!