Hello Everyone! I hope you all are having a good day.
this is my TSLA Elliot Wave analysis. I see prices reaching 450 levels or so to finish the final wave 5 down.
NOTE: however, the Wave C prices did reach the .618 level of Wave A, indicating that it can reverse from that level (low of 546). I drew a downtrend line and I believe we will still be in the downtrend until we break that line, indicating a new bullish run up is in the making. I suggest everyone get in at the bottom of wave C, as Tesla will surely pass the ATH at 900 in the future.
Currently, we are in a wave 4 of 5 in my opinion, and will see prices print at around 650 or so before resuming the downtrend.
I have labeled key areas in the chart. I would wait to see what happens next week and wait to see if prices can reach the 650 target (0.5 retracement)
this is my TSLA Elliot Wave analysis. I see prices reaching 450 levels or so to finish the final wave 5 down.
NOTE: however, the Wave C prices did reach the .618 level of Wave A, indicating that it can reverse from that level (low of 546). I drew a downtrend line and I believe we will still be in the downtrend until we break that line, indicating a new bullish run up is in the making. I suggest everyone get in at the bottom of wave C, as Tesla will surely pass the ATH at 900 in the future.
Currently, we are in a wave 4 of 5 in my opinion, and will see prices print at around 650 or so before resuming the downtrend.
I have labeled key areas in the chart. I would wait to see what happens next week and wait to see if prices can reach the 650 target (0.5 retracement)