Depending on investor sentiment, I am expecting 3 possibilities, listed from most positive to least positive investor sentiment:
If we hit red, or maybe even yellow, we are looking at a rough 2024 (See my triple top and dip Idea.)
- In Purple (most positive): Bounce to $196-$198 fib levels, decaying to $188-192 range.
- In Yellow: Bounce to $192-$194 fib levels, decaying to $184-186 range.
- In red (worst): Little to no bounce, very pessimistic view on stock, decaying straight to $180-182.
If we hit red, or maybe even yellow, we are looking at a rough 2024 (See my triple top and dip Idea.)
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Bounced twice off of $186.15. Did we find a solid support? If we break 187.40, it's possible we did.
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It looks like we are dipping for a third time to $186. It did not come any closer to $187.40, this is a crucial move: triple bottom then up? or reject the support.
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It was fought hard but didn't hold. we may be looking at $185 next support. (Fib line 0.618)
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Double bounce off the $185 fib line, looking poised to break pattern.
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Broke pattern, currently out of my positions. I'll come back later in the day to regret the sale of my puts early.
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Massive regret: It hit $180 within the hour that I stepped away. Oh well, made a profit. Not looking good for Tesla. Might, MIGHT, go back in if there is any significant bounce up but it isn't looking like it will.
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Will do a post-market close analysis in a couple hours.
Following along red line so far.