We have been waiting for a dip into the Fibonacci Retracement Zone which was finally realized on Thursday. Next week may offer the first lower risk opportunity to buy calls since the stock doubled off of the January low at $101. We will continue to view TSLA independent of our big picture forecast and remind subscribers that that during, "Exponential Returns, Part I" in 2019-2021 there were several -50% stop-outs in calls to go along the numerous triple, quadruple and quintuple digit returns along the way. It comes with the territory.
TSLA Intermediate Term
This Jan 2025 $420 LEAP continues to be my favorite buy and hold call option on TSLA for the rest of 2023. It traded as low as $17.80 last week after being as high as $29.75 on Valentines Day. We will be zeroing in on entry on this one as well as a shorter-term, closer to the money call in the days ahead. During the first run-up we used our trend model as well as a simple stochastic for strategic entries with great success. Bear market or not, we are already seeing massive rallies, for example $101 to $217 in about six weeks, generating 10X returns on some select calls. There isn't a stock on the exchange that carries as much potential as TSLA shares, calls, or LEAPS, for the years ahead. Look for a special white paper out as to why my $1,000/share price projection was rendered woefully inadequate by Investor Day 2023 and unveiling of Master Plan 3. How woefully inadequate? Stunningly - woefully - inadequate.
This six-month call was trading at $3.00 on January 12th, a few days after the Wave 2 low and the first of many short-term trading signals to the upside. We were in hard down pending mode on the general market and didn't take any of these TSLA Buys. Continuing to revisit these signals not taken is a learning experience. TSLA calls expiring in Jan 2025 and those expiring in Sep 2023 both have their respective places in crafting trading strategies that will generate exponential returns. Find something that works...then trade it.
PRO Service - TSLA Buy Pending
This is the 240 Minute Trading Model that did so well in 2019-2021 for our PRO Service. Price dipped to below the Fib 23.6% level on Thursday, just inside its Fib Retracement Zone. Ideally we would like to see the next blue up arrow come from a deeper retracement, below at least 38.2%, but TSLA has been so strong over the past two months that it would not be surprising to see it take off above $200 next week...and never look back.