In the last post about Tesla I said price was ready to move up. This was a little too early but price eventually bounced from the 100% fib extansion around 101. This ended a nice corrective pattern from the all time high. Since this low price has more than doubled from the low in what looks like an impulsive wave 1 of a much larger wave 3. The wave 2 that followed this rally looks like it is finished aswell which means price could be ready for a big move up soon. This wave 2 was a double three corrective wave (wxy) with a possible head and shoulder pattern forming at the 100% fib extansion.
Alternative in the short term is price is looking to fill the gap at 144 to finish the wave 2.
Best of luck!
Alternative in the short term is price is looking to fill the gap at 144 to finish the wave 2.
Best of luck!
