TSLA The market psychology is that, once a down trend is broken for the first time, over 80% of the time it is followed by another test of the opposite side to confirm the reversal; higher time frame trend break overshadows lower time frame trends as their are more players involved, incidentally this are also where the "bear/bull traps" occur, where positions entered into the clear trend break, ie. chasing.
TSLA yesterday i sold covered calls to lock in profit, today the price reached into 330 which is the upper range of my put entry; this move up broken the daily downtrend definitively (thick red line); historically this is followed by gradually pullback to the uptrend support area over 1-2 trading weeks; the levels are currently 292 and 275 for trend follower entries. Weekly low bound target at 310 area for intra-week support on 4 hr time frame.