TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: the reason I repeat my previous statements at the beginning of each update is 1) to keep myself in a steady/normal decision-making mood, not changing the overall picture on one week of price action, and
2) to help people who are new to my updates to know what is going on.
July 9th: I expect wave b to bottom (40 week trough) on the third week of August around 230.
July 22nd: moving lower to form the trough and my target is 225.50 happening on the second or third week of August.
July 29th: moving to a 40W cycle trough, happening around 24th of August at 225.50.
Aug 5th: we got a downside break of the 80D cycle FLD this week which shows a price target of 231 for the upcoming trough. But, since the trend underlying that wave is down, we should overshoot that target (hence going to our original target of 225.5).
Aug 12th: For the time target of when to expect the 40W trough, I am having the 25-29th of August.
Update: the bearish pressure of a 40W cycle trough that drags the price action into its target is being felt completely.
Analysis of the structure:
Right now, we are in wave B of V of (c) of b. This small upside pullback should complete on Monday around 222, then we will have the final push lower to bottom for wave b of 3.
Also, note the volume increase of past few days, which can be an aid in identifying reversals happening soon.
Price targets for the bottom (200.68-208.55):
1) based on the retracement of wave a of 3: 208.09 and 200.85.
2) wave (c) of b: 208.55 and 200.68.
Analysis of the cycles:
I think yesterday we got the first 5D cycle trough of the second 10D cycle of the second 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of the 40W trough.
This means the 40W cycle trough is going to happen on Wednesday (23rd) or Thursday (24th).
2) to help people who are new to my updates to know what is going on.
July 9th: I expect wave b to bottom (40 week trough) on the third week of August around 230.
July 22nd: moving lower to form the trough and my target is 225.50 happening on the second or third week of August.
July 29th: moving to a 40W cycle trough, happening around 24th of August at 225.50.
Aug 5th: we got a downside break of the 80D cycle FLD this week which shows a price target of 231 for the upcoming trough. But, since the trend underlying that wave is down, we should overshoot that target (hence going to our original target of 225.5).
Aug 12th: For the time target of when to expect the 40W trough, I am having the 25-29th of August.
Update: the bearish pressure of a 40W cycle trough that drags the price action into its target is being felt completely.
Analysis of the structure:
Right now, we are in wave B of V of (c) of b. This small upside pullback should complete on Monday around 222, then we will have the final push lower to bottom for wave b of 3.
Also, note the volume increase of past few days, which can be an aid in identifying reversals happening soon.
Price targets for the bottom (200.68-208.55):
1) based on the retracement of wave a of 3: 208.09 and 200.85.
2) wave (c) of b: 208.55 and 200.68.
Analysis of the cycles:
I think yesterday we got the first 5D cycle trough of the second 10D cycle of the second 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of the 40W trough.
This means the 40W cycle trough is going to happen on Wednesday (23rd) or Thursday (24th).
