TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: let's review the key points of the previous update (September 1st):
Update:
What happened this week was a sideways move on TSLA (inside candle on the weekly chart leading to increased pressure) that mainly shows cycles are taking a bit more time than nominal to complete, which is completely normal.
Analysis of the Structure:
We do not need a change to the daily count. The only thing is that wave (II) of c of 3 is developing as a triangle and not the flat that we expected.
Wave e of (II) is still under development and will complete on Monday morning (around 245). What follows is wave (III). My target for wave (III) peak is 321.
Analysis of the Cycles:
We got the 20D cycle trough on September 7th, 2 days after our expected date. This means the first 20D cycle in the current 40W cycle was a bit longer than nominal (nominal length of a 20D cycle is 17 days).
Now, we are in the second 20D cycle of the first 40D cycle of the first 80D cycle of the first 20W cycle of the second 40W cycle of the current 18M cycle.
The first 5D cycle in this current 20D cycle is due on Monday.
Analysis of the 40D cycle: the trough of this cycle is expected on September 20th. As the underlying trend is bullish, we will have a right translation of the peak (meaning that the peak happens pretty late in the cycle). So, we can consider sometime around September 18th for the peak and the target that the cross of the 40D FLD has generated is 264.40 (don't forget that the bullish underlying trend will generate an overshoot of this target).
Analysis of the 80D cycle: this trough is expected from 16th to 25th of October. Again, a late peak is expected, so we can consider the 12th to 21st of October as a range for the peak. So far, we have had 2 crosses of the 80D FLD, which gives us a range for the target (290-302). Again, underlying trend bullish => overshooting the target => reaching the fib target of 321.
Summary and important dates to remember: we are very close to the completion of wave (II) of c of 3, after which we will start a strong upward move as wave (III).
My target for wave (III) peak is 321 happening on October 16th.
- Wave (II) very close to the bottom, 240.58 target for the bottom.
- THIS IS AN AMAZING BUYING OPPORTUNITY.
- Wave (III) comes next, the strongest part of this move, 318.49 as a potential target for wave (III) peak.
- 20D trough on September 5th, then we start the second 20D cycle in the current 40D cycle.
Update:
What happened this week was a sideways move on TSLA (inside candle on the weekly chart leading to increased pressure) that mainly shows cycles are taking a bit more time than nominal to complete, which is completely normal.
Analysis of the Structure:
We do not need a change to the daily count. The only thing is that wave (II) of c of 3 is developing as a triangle and not the flat that we expected.
Wave e of (II) is still under development and will complete on Monday morning (around 245). What follows is wave (III). My target for wave (III) peak is 321.
Analysis of the Cycles:
We got the 20D cycle trough on September 7th, 2 days after our expected date. This means the first 20D cycle in the current 40W cycle was a bit longer than nominal (nominal length of a 20D cycle is 17 days).
Now, we are in the second 20D cycle of the first 40D cycle of the first 80D cycle of the first 20W cycle of the second 40W cycle of the current 18M cycle.
The first 5D cycle in this current 20D cycle is due on Monday.
Analysis of the 40D cycle: the trough of this cycle is expected on September 20th. As the underlying trend is bullish, we will have a right translation of the peak (meaning that the peak happens pretty late in the cycle). So, we can consider sometime around September 18th for the peak and the target that the cross of the 40D FLD has generated is 264.40 (don't forget that the bullish underlying trend will generate an overshoot of this target).
Analysis of the 80D cycle: this trough is expected from 16th to 25th of October. Again, a late peak is expected, so we can consider the 12th to 21st of October as a range for the peak. So far, we have had 2 crosses of the 80D FLD, which gives us a range for the target (290-302). Again, underlying trend bullish => overshooting the target => reaching the fib target of 321.
Summary and important dates to remember: we are very close to the completion of wave (II) of c of 3, after which we will start a strong upward move as wave (III).
My target for wave (III) peak is 321 happening on October 16th.
