Thank you, I appreciate the feedback.
I think intraday price action is what it is especially with a stock as volatile as TSLA. The sudden spikes could be due to a number of reasons such as a bot's algorithms, day traders' price targets being met, scalpers, short covering, rumors hitting the web, possibly OPEX (as you saw), etc. Do remember that there is a much larger picture so any gains seen today could easily be tomorrow's losses. Even with yesterday's price action, if you look at a daily chart, TSLA pretty much finished flat yesterday while narrowing the wild swings seen earlier in the week.
TSLA finished the week at a pivot point, actually in between the pivot and level 1 (near term) resistance, which also happens to be the resistance line of the channel. If a reversal were to happen, TSLA would need to finish above 123.70 on Monday and continue above that on Tuesday. Though any kind of rally may be short lived as there'll be profit takers and a closing of positions along the way thus possibly creating a lot of resistance at in the upper 120s (~128) and we can easily find ourselves at this level the week after.
On the flip side, TSLA has been trading in a very tight channel lately and there is too much downward pressure on TSLA with plenty of room to drop to the 200-day MA, about 109 as of yesterday's close. Which subsequently is in line with the latest technicals. Because of this, I don't think we'll see any kind of meaningful upside until late December or early January. One scenario I've looked at is a cup and handle formation where TSLA can dip well below the 200-day MA, bottom out in the low 90s/upper 80s in mid-late December, start picking up in January and run up all the way to 150-160 by Q4 earnings in February. Not saying that it will happen but one possible outcome.
sleepyhead posted on here in the last couple weeks that TSLA is a good value right now but he's still not buying, and I'm with him on that due to the amount of possible downside. I would personally like to take a long position here but I don't want to lose my shirt and see a today's gains are tomorrow's losses scenario like we saw this past Tuesday and Wednesday. Just to put it out there, I nearly scalped yesterday with buying at 118 when I saw it then planning to sell at the end of yesterday. I didn't do it because we're too close to the resistance line and I want to have the cash available on a much larger dip. Overall, I'm very bullish about TSLA and we'll see a $300 stock price in the next three years. But in the meantime, I intend to play the swings along the way.