If you are not a new follower of mine, you know I have been tracking Tesla for some time now. On 27 April we hit a bottom of $151.72, and I decided to start posting EVERY day on Tesla. Thus far as not only my followers but my past posts themselves can attest; I have been calling just about every move it has made since. Tomorrow will likely tell us if this count ends up busting or comes to fruition.
---5 Main Reasons I am Bearish
1. After the bottom of $151.72 the majority of our moves have been of a corrective nature. If this really was wave (3) already, we would have been over $200 in the first or second week of May at the latest.
2. Since that bottom, as I said before we have largely followed my count. Sure, it extended past normal fibs one time, but as I said I don't control price. Due to that extension though, I called that it would end in a flat ABC. Again, not being cocky, just pointing out it has been following my count this whole time giving it a higher chance of being correct.
3. The NASDAQ, DOW, and S&P 500 are ALL set to fall. I repeat, THE MAIN US INDEX'S ARE SET TO DROP VERY SOON IF NOT ALREADY STARTED!
4. The 1HR MACD has started to crack to the downside showing the weakness on the larger time frames.
5. On the 15min MACD, price made a new high on neg. div.
All this being said, I very well could be wrong. Hence why I am on the sidelines right now. I will let other people lose money fighting this battle. If it really is the start of wave (3) we will have PLENTY of time/opportunities to get in on that trade. There is a possibility we get OMH, but it wouldn't be much if we did. MACD is overextended as it is and is flashing sell signals.
My primary is we have already topped, and have started/will start tomorrow, our trek down to the $180's. 1st ALT is we will make one more slight high and then head down hard. My 2nd ALT, we are in wave (3) already and will head much higher.
If you are duking it out in this trade, make sure you manage your stops wisely. I will be waiting for a good spot to enter in a long position. As always, ask questions and I will answer them within 24HRS. My alerts for PM's haven't been coming through on my phone so if I don't respond after 24hrs then comment on a post and let me know.
Bonam Fortunam,
--Tyler
---5 Main Reasons I am Bearish
1. After the bottom of $151.72 the majority of our moves have been of a corrective nature. If this really was wave (3) already, we would have been over $200 in the first or second week of May at the latest.
2. Since that bottom, as I said before we have largely followed my count. Sure, it extended past normal fibs one time, but as I said I don't control price. Due to that extension though, I called that it would end in a flat ABC. Again, not being cocky, just pointing out it has been following my count this whole time giving it a higher chance of being correct.
3. The NASDAQ, DOW, and S&P 500 are ALL set to fall. I repeat, THE MAIN US INDEX'S ARE SET TO DROP VERY SOON IF NOT ALREADY STARTED!
4. The 1HR MACD has started to crack to the downside showing the weakness on the larger time frames.
5. On the 15min MACD, price made a new high on neg. div.
All this being said, I very well could be wrong. Hence why I am on the sidelines right now. I will let other people lose money fighting this battle. If it really is the start of wave (3) we will have PLENTY of time/opportunities to get in on that trade. There is a possibility we get OMH, but it wouldn't be much if we did. MACD is overextended as it is and is flashing sell signals.
My primary is we have already topped, and have started/will start tomorrow, our trek down to the $180's. 1st ALT is we will make one more slight high and then head down hard. My 2nd ALT, we are in wave (3) already and will head much higher.
If you are duking it out in this trade, make sure you manage your stops wisely. I will be waiting for a good spot to enter in a long position. As always, ask questions and I will answer them within 24HRS. My alerts for PM's haven't been coming through on my phone so if I don't respond after 24hrs then comment on a post and let me know.
Bonam Fortunam,
--Tyler
Comment:
Should be done with this minor (a) and headed up a few $'s for (b). Then down to the $180's after that if this continues along this path
Comment:
This move up should conclude soon and then we will start dropping with more strength for a smaller (c) wave.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
