This is Tesla on a log scale. It lets you see the big picture.
By Oct 1, 2024, TSLA will reach a brand new all time high. Minimum 387.44.
Why October? Because that's when TSLA's all time high will intersect with its fair trade price. That would only happen with a company that isn't growing, so unless something happens with Elon it will be squeezed into pushing higher.
October might seem far away, but the last time TSLA began its last big move was in 2019. Here we are, five years later, and TSLA is finally done winding up for its next big jump.
Short term, it will probably retest 153-160 by May 1st. It would be a great time to look into some Oct 16 350 calls.
After that retest, it will make quick work of breaking the following levels: 222, 315, and 370 before taking on the all-time high at around 387-400. I made sketch of the general path I think it will probably take to get there.
Moreover, it will more than likely fly past 400 and shoot straight up towards 515. There's always the possibility of shooting past the 500's and aiming for 750-910.
Absolute worst case scenario: TSLA will bounce around between 160-225 until September before catapulting itself to 387.44 by Oct 1.
(I’ll update with a different kind analysis on TSLA and compare the two to see how things match up)
By Oct 1, 2024, TSLA will reach a brand new all time high. Minimum 387.44.
Why October? Because that's when TSLA's all time high will intersect with its fair trade price. That would only happen with a company that isn't growing, so unless something happens with Elon it will be squeezed into pushing higher.
October might seem far away, but the last time TSLA began its last big move was in 2019. Here we are, five years later, and TSLA is finally done winding up for its next big jump.
Short term, it will probably retest 153-160 by May 1st. It would be a great time to look into some Oct 16 350 calls.
After that retest, it will make quick work of breaking the following levels: 222, 315, and 370 before taking on the all-time high at around 387-400. I made sketch of the general path I think it will probably take to get there.
Moreover, it will more than likely fly past 400 and shoot straight up towards 515. There's always the possibility of shooting past the 500's and aiming for 750-910.
Absolute worst case scenario: TSLA will bounce around between 160-225 until September before catapulting itself to 387.44 by Oct 1.
(I’ll update with a different kind analysis on TSLA and compare the two to see how things match up)
The short-term retest of 153 -160 that I anticipated would happen sometime before May 1st happens to coincide around the time of Tesla's earnings call. Since I am always looking at the bigger picture, I don't usually care about that. However. It never occurred to me to consider that Tesla may not be able to maintain its base level which is currently in the low 150’s.
If it can't hold 150's, it will land somewhere between 100-120.