Explosive Down before Up

Updated

TSLA has been setting up for a potential rally to test upper 200s, but first it will see sharp downside to 218-223 (point target 220) by 12/13/2023.

- Needs to stay under 239.88 for this to playout, otherwise it can bounce to 260s
- If makes sustained TSLA break below 220 then there is downside continuation risk to 180s

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The most bearish scenario for TSLA near term is 180 by this Friday, 12/8/2023.. This is not the highest probability outcome but definitely possible. Worth buying some 12/15 puts, not financial advice.

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If TSLA makes sustained breaks back above 239 it will run to 265 by mid December.

If that happens this becomes a bullish setup and I'll play calls. Not entering puts due to this risk.

Take a look at the 1H time frame in April 2023 - nearly identical (didn't notice this until after I posted).

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Its looking like we will get the test of 220 in the coming week. Entering Dec 22nd 230 puts with a break back below 239 today.

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Bears, it is time.

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Get Wrekd

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Observe how price is now getting sucked toward the target confluence.

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Bullish from here - I'll post an update. That pullback to upper 220s was all we're going to get.

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Upside target is 300 by end of Feb. 2024. It will begin run to there first week of Jan.

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See my new post for updated idea. Shows expected path to 300+

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And now we're here under 220. This is setting up for major run after earnings. Accumulate March calls and shares under 220.

JerryManders

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