TSLA Clawing Its Way Back

TSLA Update-- FWIW, Dave Portnoy of Barstool Sports fame (among other things), was all over social media yesterday about his purchase of $10 million of TSLA stock in the downdraft created by yesterday's 7%-8% plunge in reaction to CEO Elon Musk's new preoccupation with the formation of a new political party (America Party). 

After hitting a four-week low at 288.77 yesterday morning, TSLA has clawed its way to the 297-298 area this AM. I am guessing that Portnoy bought TSLA in and around 295, making his 10% target around 325. 

Technically, my near-term pattern work indicates that the most recent downleg from the 6/24 rally high at 359.03 into yesterday's low at 288.77 has unfinished business to the downside UNLESS the current rally hurdles and sustains above 323.00. 

My preferred scenario, to the detriment of Dave Portnoy's current aspirations for the stock, argues for the recovery rally to climb into the 310-313 (maximum recovery zone) ahead of my expectation of another downleg emerging that tests and violates 288.77 en route to 271-273, where Portnoy will be faced with an opportunity to add to his $10 million position within a much more appealing technical setup for a sustainable new upleg. Last is 296.71...