RauchenwaldC

Elliott Wave Theory - TSLA Correction Not Over

Short
NASDAQ:TSLA   TESLA INC
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.

Comments

Thanks for the perspective! Why don't you short stocks?
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