AB-TheRocketman
Long

Medium Term Target @ $244.73 with Elliott Wave Cycle

NASDAQ:TSLA   TESLA MTRS INC
From a technical perspective the $230.65 resistance is a critical area for the upward break and any dip under $217.56 support should be watched as a change in momentum ... In the medium-term Elliott Wave Cycle and the Fibonacci Retractment suggest that $244.73 can be seen as a Target with a stop loss at $217.56... Any comments or suggestions would be much appreciated...
timwest PRO
2 years ago
I see one very big issue with the wave count: Wave IV isn't supposed to overlap wave II.
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AB-TheRocketman timwest
2 years ago
Thanks for your comment, I do agree that the rule you have pointed out as a fundamental aspect of the Elliott Wave Theory that should not be forgotten... However would you think that a %7.5 overlap in Wave IV would hinder the technical analysis that spans over a 15 month period, especially when the Wave IV was significantly effected by the Earnings (worse than expected) in May that created a GAP in the stock price?... (ie. in other words do you believe the Elliott Wave Theory should be applied so rigidly?)
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