This is a tough call with earnings out after the close on Wednesday. TSLA could be into the $300's by Friday, or, well into a retracement of Wave (3) run-up from $160's first week in May into the earnings week highs, the beginning of which we are seeing today. As the ATR level on the 240 Minute chart below indicates, above $273 is bullish, below bearish. If today's rally continues through tomorrow and Wednesday, that ATR reversal level will rise significantly. It acts as a built-in trailing stop for the leg up and so long as it holds, it's $300+, or bust. If it falters, a Wave (4) into mid-$200's is possible before Wave (5) up to new highs takes over. TSLA 240 Minute (4 hr) Trading Model The blue and red, up and down, arrows on this chart are consistent with "Bullish above ATR; Bearish below ATR", oversimplification of our trading system, or put another way: If it ain't broke, don't fix it. TSLA Options: YTD Blue Line Trading System PRO Positions PLTR These calls, currently +78%, expire on Friday and what PLTR does over the next few sessions will determine whether we roll into August or take profits and stand aside.
