Tesla Update--11/13

Today we did move up with some strength and crossed my upper trend line. We did not, however, breach the $226.97 price point. With the action we saw today I am inclined to think we have bottomed. Nonetheless, we do not have confirmation so until we do I keep my primary.

If we have bottomed, then I expect us to move higher tomorrow and most likely make 2 more highs into the 0.786-1.0 area. Then start to head down for another small retrace before take-off. If that is the case I may start layering into some calls and most likely start buying some actual shares.

Until then, I await for a better entry with a much better risk/reward in my favor.

Bonam Fortunam,
--Tyler

Comment:

We breached that area and with strength as I called for. We also have had 2 highs into my target box which I also called for. What this means is a mini-wave 4 should happen next before we raise in a mini-wave 5 to conclude our micro-wave 3 around $240-$255. Confused yet? lol. Attached is the chart with my target boxes. Do not use them as a predicter of time/when something will happen, but instead use them as a target so when price moves into them you have an idea of where it is going next...just not when.

Comment:

No one better go-getting FOMO on me either. If you have waited this long, then wait just a little longer. CPI is coming out this morning and could cause to Tesla to reverse hard with a potential low down to the $212 area for a second wave 2. It could also catapult it to finish out this wave iii today. time will tell. Good luck all. If we follow this path I will probably buy a few calls in the box for 4

Trade active:

starting to layer into a long position but starting small. bought 10 shares @ $233

Comment:

Updated micro. Technically 4 can already be considered complete but I think we make another local low first