Reminder: US Markets are closed on Monday in observance of MLK Jr Day. With TSLA up almost 20% from the early January 2023 lows, one of my most frequently asked questions: Is it time to start accumulating TSLA? Tesla slashed prices by about 20% on Thursday in an effort to, "boost demand." That has stopped its "recovery rally" dead in its tracks. Remember that it wasn't too long ago when shares were trading above $200 and there was a 6-12 month waiting list for Model 3 and Model Y's and over a million deposits for the forever forthcoming Cybertruck. Another reason why we don't base trading decisions soley on fundamentals, but also on charts, trends and momentum. Right now, those factors all say it's too late to sell and too early to buy. At a minimum the December low just above $100 needs to be tested, and probably broken, before a higher confidence Buy can be triggered. From whatever level the ultimate low is made, TSLA will double and eventually triple before January 2025 LEAPS expiration and it won't be company specific news that makes that low, it will be a macro, big picture market panic that opens the "Long TSLA" window. Until then, we wait. If you missed the December 2019 "Game Changer" Tesla buying opportunity, you will get another chance, just not yet.
