TSLA update. analysis performed incredibly quickly. My current analysis would like to highlight an opportunity for correction. The 560 usd target price in my previous post was met. I am currently expecting a correction of up to 20%. The explanation of this rule system is a small insignificant (yellow-green) square. This is the initial ATR of the 1W wave fractals. It can be seen that both waves fractal (green rectangle) increased exactly 60%. Currently, this is the second common point of the two fractals. The third is the correction. And I expect this to close to 428usd. Short. I suppose the brutal build-up of TSLA could stall for a while.
Is after impressive gain an devastating crush for TSLA or it is much about underpriced/overshorted company stock? 🤔
meszaros
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@mike1244321, The fair value of TESLA shares is US $ 700. For now, the rise is okay.
meszaros
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@mike1244321, I look forward to a further rise. But I'm slowly starting to make a profit.
mikeUkTrading
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Does anyone tooling towards the bullish build up continuation?
mehditportho
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With earnings reports coming up in 9 days followed by employee-rumored announcement of Model Y deliveries date to follow shortly after that, do you still think a correction is due?
meszaros
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@mehditportho, I was constantly looking for long positions in TSLA stocks. For the time being, I see that the exchange rate rise has reached the previous target current. This target price (which was based on technical calculations) was exactly in line with the fair value of the shares. I'm not going into a short position right now. But I made a profit. Now I'm waiting and looking for another better opportunity to enter the long run.
ErionZz
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So should we go long or we still have to wait? 🤔🤔
meszaros
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@Erionzogkou, We should wait.
meszaros
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@Erionzogkou, The fair value of TSLA stock is 560usd. The analysis shows that you started adjusting for a few dollars lower. The previous analysis worked well.