Bought TSLA on March 14

Tesla, Tesla, ohhhhhh Tesla. How you draw me in with your devilish ways.

Elon being the most enigmatic tech CEO since Benjamin Franklin makes this stock too tantalizing to pull my eyeballs away.

Call it FOMO, call it lust for the gains I never gained, but there just isn't anything that can make me quit this dirty little habit called TSLA.

It seems like a good idea to buy the stonk that's sold off -55% in three weeks despite the DOGE Director cozying up quite intimately with the president of the country in which it chiefly operates. There's got to be some sort of unfair advantage to that, right? I mean after all, history has {usually} proven that if you can't beat em... join em'! Until it's advantageous to do otherwise...

Okay, enough of the tom foolery. Let's get into the lentils and beans of this polarizing love/hate story of a car company.

Since it's IPO in 2010, the stock has only once had 7-consecutive red-candle weekly closes [Feb 4, 2019 - March 18, 2019], and this was a modest -17% total decline.

Other than this singular 7-consecutive week decline, the stock has a habit of maxing out at 6 weekly red candle closes [3 times since the IPO]. This is only one compelling ingredient of my decision to buy this.

The weekly candle closing today, March 14 is a major wick down candle... 90% of this weekly candle was the wick.

This wouldn't be all that big of a deal, but... the volume was significant. The average weekly volume has been ~500m shares for the past five years, and this week's volume was nearly 2x that, ~900B shares traded. This weekly volume would be almost on par with the volume levels of late 2022 and early 2023 where the stock sold off violently [-75%] from it's former all time high of $414 to $101. It bottomed at $101 trading 800m shares the first week of January 2023, then proceeded to rip +100% over the six weeks following the $101 bottom-out with 6-consecutive green weekly candles during this snap back {yee-haw!}.

I'll be long TSLA, in short:

Elon is real buddy-buddy with the most ambitiously authoritarian president in the history of the US {sorry! It's true...} which actually bodes well for the stock.

7 consecutive red candle weekly closes has only happened once since the IPO fifteen years ago, and it was a small drop on underwhelming volume [which = not a significant event without volume to back up the price move].

That long wick down candle on high relative volume is absolutely tasty! This is what bottom-out snap-back's are made of!

Not that relevant but matters a little: $215 is a semi-proven support/resistance level since 2021.

I'm buying this with 10% of my portfolio {standard for a starter position} and adding to it at the end of next week if we get a strong green candle close with 500m+ shares of volume.

I'll put my stop just under $200... -20% / 2.5 ATR's below today's close of $250. The $200 whole number price level may act as psychological support and would be -60% below the all time high of ~$500 put in three months ago. A stop-out here would be a -2% loss for my portfolio.

I'm doing it! I'm finally a Tesla shareholder! This is cool! Right!?!