TSLA has the right look for a low, it's close, but not there yet. Our last guidance on re-entry into TSLA calls was from the Feb 1st Weekend Update: "Note the false breakout on Friday @ 419.99. That high has created our next trigger for adding-on and getting all-in on TSLA, i.e., a close above $420, any day. Look for a Special Alert with new call option picks on any day is moving in that direction. If not yet Long TSLA or TSLL calls, wait for that trigger." Needless to say, TSLA never took out that high and has been hard down since the update. Today's 240 minute chart allows for even more down (to $318) and still be in a bullish retracement mode. TSLA 240 Minute The Fibonacci retracement levels are shown for a reason, to emphasize that so far all we are seeing is a normal corrective pattern, correcting a 125% move up from $215 last October to $488.50 in mid-December. I'm guessing that the ultimate low will be between $300 and $320 in the next few weeks, about the time when the last TSLA bulls are giving up. We will be aggressively long soon thereafter. As much as I wanted the next triple digit move up in TSLA to be in the first quarter of 2025, it looks like it will be delayed to at least the second quarter. Remember (and if you don't below is the longer term chart) our next projected target for share price is $600-$800, and it should reach that area this calendar year. Don't miss it. TSLA Intermediate Term (Daily) Our re-entry into TSLA/TSLL calls will be triggered by a combination of pattern recognition and trend model signals at it should come within 10% of the ultimate low being put in. Insofar as the Fib extension targets have not budged throughout this entire downswing, I expect the next Buy Signal to come with an excellent risk:reward profile and well worth the pain of waiting out the lows. Dylan's Take: Not Dark Yet
