jdemunter

Tesla : Ready to top

Short
NASDAQ:TSLA   Tesla, Inc
After a slow period, Tesla is picking up speed again. Seems everyone was waiting the busy end of the week. For the EW count, price is looking to find the wave B top. Yesterday finished the small wave (b) as a double three corrective wave. Price action seems impulsive since. This would make the entire wave B a flat corrective wave. c waves in a flat are most commonly 61.8% or 161.8% of wave a. Since 161.8% would be at all time highs, 61.8% is preferred. Looking at where the 61.8% wave (c) ends, you'll see the 61.8% fib retracement of the drop from the top, wave A. This makes the 760 price level something to watch out for. Don't forget price action could get volatile with the witches on friday, ARK ready to release it's price target for Tesla and bond yields acting wild. A quick spike up could wake up an angry bear.