Pre-Open Alert TSLA is trading up 50 points 30 minutes before the Open, well above its Buy Confirmation levels. Since the Stochastic Buy already triggered on Friday's close, this trade can be taken before waiting an hour, but until the market opens we will not have a gauge on whether it will retrace a bit, or just accelerate like it did last week. Since its high print of $968.99 on February 4th, TSLA has been in a relatively sideways trend for three days. It is more clearly defined on this 60 and 180 minute price bars: Let's add a Stochastic Buy Signal to the picture: Now we have an actionable trigger: An hourly close above the trend line, which corresponds with an Intermediate Term Buy Signal above $772. Buy Signal Pending: An hourly close above $772 Option (Pick one): March Calls: $1000-1100-1200 Notwithstanding the retracement into the end of last, TSLA is showing explosive upside momentum. We want to take all Buy Signals, knowing that some may be stopped by 50%, but that most will go up a minimum of tripled digits and as much as quadrupled digits in a matter of days. There is always the chance that TSLA has already played itself out, but that is not where the probabilities stand. A trend is a trend until it is not, and a TSLA has yet to even reach its 38% retracement since the June 2019 low. This is the only bearish chart I can find and we will know soon enough if it has started to unfold. Two days of price weakness in the midst of a 400%+ (from the low) is not enough to abandon the short to intermediate term trend.
