There are two triggers on this 30-minute TSLA chart that bear watching. First, price has approached and bounced off of Fibonacci 38.2% support twice, Nov 10th and Nov 15th. Maybe this is self-fulling prophecy since so many traders act on these levels, but why it works is not nearly as important as if it works. Secondly, the very short term 30 minute trend model has generated an up arrow, i.e., a Short-Term Buy Signal. We don't normally trade the 30 minute time frame, but when a trade signal is generated near an area of natural support it has a higher probability of success. I'm adding the Jun 2022 $1600C to my watchlist. At about $6000 ($60) this call gives TSLA seven months to double putting the call $400 in-the-money with an intrinsic value of $40,000 ($400). That may seem a little too optimistic, but the real leverage would be over the next few months when 4Q 2021 numbers come in at the end of January with record deliveries, revenues and profits along with Austin and Berlin ramping up production. If the shares are making new highs over the next 60 days, completely erasing the "Elon sells 10%" haircut, this call (and others) will easily double.
