TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: let's review the key points of the previous update:
Update: As expected, we got the 40D cycle trough on Monday morning at 253 (fell a bit short of the FLD target) and started wave (b) of b of 3.
Analysis of the structure: I see wave (b) of b developing as a flat correction and at the moment we are in wave 3 of c of (b). Based on the fib retracement of wave (a) of b, I see 280.13 as a potential target for the peak.
Analysis of the cycles: we got the 40D cycle trough on Monday. Right now, we are in the first 10D cycle of the first 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle. The 40W cycle trough is expected at the end of August (~24th) and my potential target is the same as before 225.5.
We got a 10D FLD cross to the upside this week, which shows a target of ~280 for the upcoming peak of the current 10D cycle (which reinforces the fib retracement target of 280.13).
To sum up, I expect a small (2-day) continuation to the upside (280.13). Then, we start a 3-week bearish phase moving to a 40W cycle trough, happening around 24th of August at 225.50.
- Wave b of 3 is a zigzag and wave (a) of b is almost complete.
- I expect wave V of (a) on Monday morning to 249.38 (40D cycle trough).
- What follows is a multi-day correction as wave (b) of b of 3.
- My target for 40W cycle trough is 225.50 happening on the second or third week of August
Update: As expected, we got the 40D cycle trough on Monday morning at 253 (fell a bit short of the FLD target) and started wave (b) of b of 3.
Analysis of the structure: I see wave (b) of b developing as a flat correction and at the moment we are in wave 3 of c of (b). Based on the fib retracement of wave (a) of b, I see 280.13 as a potential target for the peak.
Analysis of the cycles: we got the 40D cycle trough on Monday. Right now, we are in the first 10D cycle of the first 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle. The 40W cycle trough is expected at the end of August (~24th) and my potential target is the same as before 225.5.
We got a 10D FLD cross to the upside this week, which shows a target of ~280 for the upcoming peak of the current 10D cycle (which reinforces the fib retracement target of 280.13).
To sum up, I expect a small (2-day) continuation to the upside (280.13). Then, we start a 3-week bearish phase moving to a 40W cycle trough, happening around 24th of August at 225.50.
