This was our TSLA analysis from a PRO Update on Oct 20, 2022: "Earnings aside, it's still too early to be jumping back into LEAPS. The market is mispricing TSLA big time, but it's going lower before higher and the 2024-2025 calls will be cheaper by year end. The message from TSLA chart patterns has been to hold off new purchases until we get a confirmation of a low, a completed (a)-(b)-(c) correction of the 2019-2022 five wave impulse rally." The Wave 2 retracement has been deeper than even my bearish wave count suggested, pushed lower no doubt by the Twitter fiasco, but this too shall pass. Once the big picture turns bullish, we will be back on the TSLA LEAPS bandwagon, which as you can see on this chart below, started in earnest in December, 2019 at around $22 (two splits adjusted). TSLA - Current If you missed the Buy in December, 2019, another opportunity lays ahead. As with then, it will be a window, not a "now or never" price point, so don't feel that you have to get in at the absolute low to benefit from the trade. We will be discussing TSLA more the closer the time comes to buy the LEAPS. For now, there are, "bigger fish to fry," in the weeks ahead. Big Picture Update Do not be fooled by low volume pre-holiday spike up. It's a very small degree Wave 2 and makes this chart even more bearish than it was two days ago. QQQ
