Based on my analysis using Elliott Wave Theory on multiple timeframes in $TSLA I'm fairly certain that the recent drop from $900.40 to $539.49 is not the end of the correction but just wave A of an A-B-C corrective pattern.
I expect the price to recover a bit and reach the area around $760 - which would then indicate the end of wave B - followed by a drop into the highlighted range to complete wave C of the correction.
Personally, based on my bullish sentiment on $TSLA I don't think we'll see the bottom of that predicted area at $330 but wouldn't be surprised if the price falls as low as $400 before we continue the bullish trend and move on towards $1,400.
I initially shared that opinion 20 days ago on my eToro profile with the username "RauchenwaldC" and closed my $TSLA positions back then.
For anyone wondering, I do not short stock ever, so closing my positions, for now, to use the money in other stocks instead is as far as this affects my portfolio.
I expect the price to recover a bit and reach the area around $760 - which would then indicate the end of wave B - followed by a drop into the highlighted range to complete wave C of the correction.
Personally, based on my bullish sentiment on $TSLA I don't think we'll see the bottom of that predicted area at $330 but wouldn't be surprised if the price falls as low as $400 before we continue the bullish trend and move on towards $1,400.
I initially shared that opinion 20 days ago on my eToro profile with the username "RauchenwaldC" and closed my $TSLA positions back then.
For anyone wondering, I do not short stock ever, so closing my positions, for now, to use the money in other stocks instead is as far as this affects my portfolio.