The Tesla price chart appears to show a large flat correction labeled W-X-Y.
Wave W consists of three downward waves from 2021 to 2023. (white)
Wave X shows a three-wave upward retracement from 2023 to 2024, which even overshot the start of wave W. (blue)
Now, we seem to be in the final leg of the third move: wave Y down. (yellow)
Typically, wave Y retests the bottom of wave W.
If that holds, we could see Tesla’s price revisit the 2023 low of $101.81.
Is Tesla losing its appeal?
I’d love to hear your thoughts.
Wave W consists of three downward waves from 2021 to 2023. (white)
Wave X shows a three-wave upward retracement from 2023 to 2024, which even overshot the start of wave W. (blue)
Now, we seem to be in the final leg of the third move: wave Y down. (yellow)
Typically, wave Y retests the bottom of wave W.
If that holds, we could see Tesla’s price revisit the 2023 low of $101.81.
Is Tesla losing its appeal?
I’d love to hear your thoughts.
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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.
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.