TSLA will explode into $1000 territory into next year

2 oct 2020

TSLA is currently in a corrective triangle that is situated within the fourth wave segment of the primary impulse wave established last year. The triangle recently finished the D-wave segment and is moving into the final E-wave. Because the triangle wave segments have been relatively simple, it's entirely possible that the final E-wave could extend into a triangle of its own, forming a 9-wave triangle whose apex appears to be right at Q3 Earnings. Upon conclusion of the triangle, the price action is expected to continue onto the final fifth wave segment of the primary wave which is expected to reach into $1000 territory next year.

On a fundamental basis, this projected jump in price will likely be in part from a surprise earnings report. While Elon Musk and Tesla Motors have been disclosing their delivery numbers for their American facilities, their numbers for overseas factories have not been provided yet. However with Chinese deliveries being promised next year, Chinese customers must be making deposits in order to place those orders. Those deposits will be reported in Q3 earnings as unearned income and it will be trivial for analysts to project future deliveries based on the deposits made by overseas customers. This will likely be the surprise and will further encourage investors to embrace electric vehicles as the future of the automotive industry.