Tesla - Is Hype Over or Can We Still Expect Miracles from Musk?

When there is hysteria in the market, sky-rocketing inflation, geopolitical risks and the slowdown of the economy can TSLA still update its historic high before global correction?

Fundamental indicators:

• Revenue and Profits - quarterly earnings are beating wall street expectations
  
• Profit margin - getting into double digits with 17% however it's nowhere near enough effective with the current P/E
  
• P/E - outrageously high ratio of 105x
  
• Liabilities - no problems with debt
  

Technical Analysis (Elliott Waves):

• Since the fall of 2020 TSLA has enjoyed enormous 1600% increase in share price - no one can deny that it's a bubble of extreme proportions
  
• The crux of the Elliott Wave count is the movement between January 2021 and February 2022 - in this scenario a Running Correction is proposed as wave 4
  
• Therefore, fifth wave is currently developing and considering choppy movement it is likely to be an Ending Diagonal with 3-3-3-3-3 structure
  
• Wave 1 of this diagonal has been completed and wave 2 with ABC zigzag is still developing which may reach $756 before turning around and starting wave 3
  

What do you think about this scenario on TSLA ?

Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.

Thanks