Tesla - End of the Run Up

Feb 11, 2023

What do we do with Tesla.... Breathtaking run up has shorts scrambling for cover.

I'm initiating a Sell... I think this is an important inflection point.
Analyzing price structure on a weekly log (to get adequate perspective) I believe this recent run up represents a wave 4 of a large "A" wave in the long term view. EW alternation of wave 2-4 exist here. Wave 2 was complex wave 4 at this point appears simple.
Risk-reward at this point is ideal.
Notice the current weekly Doji that just printed at the point of MAJOR confluence. I will use this as a stop point...

I will be updating with shorter term charts as the move unfolds.

Weekly View


Weekly Doji

Feb 14, 2023

Note

Charting TSLA in LINEAR vs LOG format will give you wildly different perspective. In the longer term view I believe this stock it's in a wave 4.
Here is an alternate wave count in LINEAR mode. This count suggest a short term top fallowed by a significant rally taking out the Feb 9th high.

Feb 20, 2023

Note

I have a saying..."live by he LOG die by the LOG" Here are my graphic thoughts...
WEEKLY LOG LINE chart.... I believe the correction this stock has been in since Nov '21 is a wave 4. That being the case price should tag the lower yellow channel line at some point. How it gets there is the trick. The current position is a good risk-reward point for this possible scenario. I have not initiated my short yet. Waiting for the set-up that has yet to materialize.