Over the past two weeks, Tesla’s stock saw a sharp uptrend followed by a sell-off. We consider the low of the magenta wave [ii] as settled and now anticipate a five-part impulsive movement during the magenta wave [iii]. Regarding the subwave count, there is more room on the downside for the blue wave (ii), before the subsequent wave (iii) should surpass the resistance at $271. However, in our 30% likely alternative scenario, renewed selling pressure could push the stock below the $167.41 mark and thus toward a new low of the blue wave alt.(II).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.