I am considering that this last move up is a completed "c" wave for those that are EWP . The last move is counter trend and has a completed 5 wave impulse into resistance. The of the last four swings have lasted 15 bars and are -20%. This projection would take TSLA to $174. The options are a bit expensive but could be lucrative. I hate earnings plays though!
I'm not sure you received my reply so I will try again. The only way to know the answer to that question is to know what the eps is. I do know that with the decline in oil that electric car sales will likely decline. TSLA is a bit of a niche, however the strength of the dollar has also hurt corporate profits. This is why I trade technically. The best two out of three wave counts point to a decline. The position of the oscillators as price moves into resistance is also telling and adds credibility to a continued decline. Stochastic show overbought, and the RSI is in a bearish price reversal position, 5 waves up have completed which is either a 1 or a C. In either case the next move should then be an A of 2 or a 1 of a five wave impulse down. Either case is down, either in thee waves(retracement) or 5 waves(continuation). If earnings exceed estimates, then price will gap above resistance and the current uptrend will extend. Thoughts?