Description
⋅ Elliott Wave Theory suggests that Tesla's rally may soon come to an end.
This is hardly mistakable as we can see a very obvious Wave 4 Triangle (in chart).
Once Wave 5 is in - or already in, a major correction (A-B-C) ensues.
Wave 5 could very well be an Ending Diagonal, if it decides to extend further.
Ideal price to start investing in Tesla would be around the 0.5 to 0.618 Fibonacci Retracment levels [$230 - $330].
It may or may not go lower, but trying to catch the absolute bottom is not what you'd like to do.