TSLA - Where do we go from here..??
Updated
So, as I'm sure everyone knows, we've been watching the $122-$123 Levels of Resistance since we first tested those levels back in Dec 2023 (which was originally levels of support back around Dec 22 and ultimately became resistance on Dec 29th and we have since retested that resistance leading up to today's breakout above.
Another bullish note is that the stock broker out from it's longer Diagonal Downside Trend (Blue Downward Trend Lines) today which is notable for bulls. But that doesn't mean everything! The stock is currently trading in the purple upward channel as identified within the short-term green trends (which is what we're watching closely.
Now that we're above those levels, we discovered potential additional resistance around the $129.69 level. Of course, the stock even broke out above those levels but ultimately will need to confirm yet another Resistance > Support Reversal before we go as far as saying the is "On the way to the Moon" as some say these days..
And as the Red arrow states beyond those initial data points would insist that we could retest the $122-123s again (which we would expect to become support there.
Keep an eye on those levels
Another bullish note is that the stock broker out from it's longer Diagonal Downside Trend (Blue Downward Trend Lines) today which is notable for bulls. But that doesn't mean everything! The stock is currently trading in the purple upward channel as identified within the short-term green trends (which is what we're watching closely.
Now that we're above those levels, we discovered potential additional resistance around the $129.69 level. Of course, the stock even broke out above those levels but ultimately will need to confirm yet another Resistance > Support Reversal before we go as far as saying the is "On the way to the Moon" as some say these days..
And as the Red arrow states beyond those initial data points would insist that we could retest the $122-123s again (which we would expect to become support there.
Keep an eye on those levels
Note
Just an update here, as we were eluding to in our original analysis was that we expected a bounce above the $129.69 Level which we witness through EoS yesterday, and going into pre-market this morning with a Gap up to the $136 Levels, which was great for Bulls. The stock was able to break the longer downtrend levels and continue the shorter upward trend that it's been riding over the past few trading sessions.
For transparency, we actually bought a few PUTs with the expectation that there was not enough liquidity to necessarily hold the stock above that $129.65 Price Level that we identified. We went in knowing we could potentially take an initial hit while waiting overnight to confirm in this mornings session. So far so good with what we expected.
Moving forward, if we stay below $129 going throughout today, we would naturally expect a Resistance-to-Support Conversion around the $122-$123 Prices Level, which would be our 3rd buy-in on our Long=Term Portfolio. We're holding our PUTs to capture profits in both directions.
Stay tuned for more updates throughout today's trading session.
Note
Call us crazy for shorting TSLA if you want.. We call it "Precision Trading"...
Note
15-min Timeframe with and without Momentum Tracking Indicators Note
Potentially could be falling back into the Longer Timeframe Downward Channel that TSLA has been trading in since September when the sell-off originally started. 
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