Zoen_Trieste

TSLA: Post Split Update

NASDAQ:TSLA   TESLA INC
Further to the earlier idea shared before the splitting of this stock, here's an updated version of the chart showing the same levels but adjusted for the split. The structure of this market suggests a completed 3-wave impulse sequence, which is now being corrected by profit-taking and short selling. The current correctional formation is seemingly completing the A leg of a potential ABC correction. Approximate movement and supply and demand areas are highlighted for convenience. In case of suggestions or questions on this TA idea, drop a line in the comments section below. Staying tuned for further hints on the price direction of this exceptional stock.

Comments

just my thought bro, I notice that your wave 4 count is a little bit short, didn't it came to your idea that this wave 4 might just be a part of wave 3? pls give me more insight why you think you wrote the correct wave 4. Thanks in advance.
+3 Reply
@catazarl that’s a good question, thanks! The 4th wave, according to EW rules should correct the 3rd wave by 30-50%, and shouldn’t go further than the starting point of 3. In this regard, there’s no conflict with considering it as the 4th wave. Also, given the prior context where there was an expectation of a split and given the huge market valuation of this company, I prefer to see it as a full cycle with 12345 completion. This will, however, be invalidated if the price of this stock pushes higher than the current ATH without printing an ABC correctional cycle. I hope that answers your question.
+1 Reply
catazarl Zoen_Trieste
@Zoen_Trieste, well appreciated, thanks.
+1 Reply
@Zoen_Trieste **and shouldn’t go further than the ending point of wave 1**
Reply
Looks good! Here is my analysis
+2 Reply
good analysis. keep up the excellent work :)
+2 Reply
Zoen_Trieste hinikaharpavat
@hinikaharpavat, thank you!
Reply
nice idea
+1 Reply
Zoen_Trieste PolarHusk
@PolarHusk, thanks for the feedback!
Reply
Great chart as usual. Would love an education chart on how to use Gann squares. Seems like you're pretty knowledgeable about these kind of tools. (gann, pitchforks, etc). Thanks for the content!
+1 Reply
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