MindsForge

Monthly chart Elliot wave on Fibonacci retracement

NASDAQ:TSLA   TESLA MTRS INC
146 2 0
I don't know how far the a leg of the retracement will go, so I added the Fibonacci lines to give us some hints. It seems to be bouncing around the 0.382 line at the moment, but it wouldn't be surprising to see it go lower before starting on the upward b leg.
AndyM PRO
2 years ago
Hi! Thanks for sharing! TSLA is a great example of EW in action. Totally agree that we are now in a correction to what's supposed to be wave 1 of some bigger movement. My prediction is that the price will decline to just above to where it started, to approx. 45, and then.. and then... we are going to have an investment opportunity that only AAPL can match with its 2000-2014 run. It's just important to avoid early entry in this stock. Mid 2016 will be the lowest point in my opinion for TSLA. Once at 45 I would expect the price to multiply by 50 in the next 10 years. This will be a first trillion-dollar company, outpacing AAPL by far in the long run.
+1 Reply
MindsForge AndyM
2 years ago
You're welcome! I am very new to EW and was pleased to see this playing out. I am definitely watching this company, no positions yet. I would love to enter ~45, not sure if the market will allow it to get that low though!
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