Hi Everyone,
Just to share my expectations for Tesla over the next few months.
This is based purely on standard technical wave formation, and assuming a ABC zig-zag takes place. It excludes company fundamentals and correlation to the overall stock market.
I think that we've completed a Wave A correction, and currently in the midst of a Wave B which should lead to a near term trading range between 600-800USD.
After this, I think we'll see the final Wave C structure being formed. If this is a similar magnitude to Wave A, this should lead to a price level below 500USD and reaching the weekly 50% Fibonacci retracement level.
The arrows in the chart are approximations, but can be updated once the sub-waves are counted.
Good luck!
Just to share my expectations for Tesla over the next few months.
This is based purely on standard technical wave formation, and assuming a ABC zig-zag takes place. It excludes company fundamentals and correlation to the overall stock market.
I think that we've completed a Wave A correction, and currently in the midst of a Wave B which should lead to a near term trading range between 600-800USD.
After this, I think we'll see the final Wave C structure being formed. If this is a similar magnitude to Wave A, this should lead to a price level below 500USD and reaching the weekly 50% Fibonacci retracement level.
The arrows in the chart are approximations, but can be updated once the sub-waves are counted.
Good luck!