Tesla Elliott Wave View: Dips Expected To Remain Supported
Hello Traders,
TESLA short-term Elliott wave view suggests that the decline to $252.27 low ended blue wave (W). Up from there, it is correcting the cycle from 08/07 in the sequences of 3-7 or 11 swings in blue wave (X).
Above from $252.27 low, the rally higher ended red wave W at 09/18 peak (303.26). The internals of that rally unfolded in a 3 waves structure as a Elliott Wave double correction.
Up from $252.27 low, the initial rally to $287.60 high ended black wave ((w)) at 09/10 peak. The pullback to $273.40 low ended black wave ((x)). Then the rally higher towards $303.26 high ended black wave ((y)) of red wave W.
Down from there, the pullback to $275.68 low ended red wave X. Above from there, it broke red wave W peak, confirming that the next short extension higher has started.
Up from 09/18 low (275.68) it ended black wave ((w)) at 09/20 peak (306.84). The internals of that move unfolded as a ABC structure higher. Below from 09/20 peak it is currently in the progress of correcting cycle from 09/18 low in the sequences of 3-7 or 11 swings before more upside should be seen.
Near-term focus should be on the equal legs extreme area of blue wave (a)-(b) towards 290.24-287.28 where a reaction higher is expected to take place as long as the pivot at 275.68 stays intact. The right side is to the upside we dont like selling it.
TESLA short-term Elliott wave view suggests that the decline to $252.27 low ended blue wave (W). Up from there, it is correcting the cycle from 08/07 in the sequences of 3-7 or 11 swings in blue wave (X).
Above from $252.27 low, the rally higher ended red wave W at 09/18 peak (303.26). The internals of that rally unfolded in a 3 waves structure as a Elliott Wave double correction.
Up from $252.27 low, the initial rally to $287.60 high ended black wave ((w)) at 09/10 peak. The pullback to $273.40 low ended black wave ((x)). Then the rally higher towards $303.26 high ended black wave ((y)) of red wave W.
Down from there, the pullback to $275.68 low ended red wave X. Above from there, it broke red wave W peak, confirming that the next short extension higher has started.
Up from 09/18 low (275.68) it ended black wave ((w)) at 09/20 peak (306.84). The internals of that move unfolded as a ABC structure higher. Below from 09/20 peak it is currently in the progress of correcting cycle from 09/18 low in the sequences of 3-7 or 11 swings before more upside should be seen.
Near-term focus should be on the equal legs extreme area of blue wave (a)-(b) towards 290.24-287.28 where a reaction higher is expected to take place as long as the pivot at 275.68 stays intact. The right side is to the upside we dont like selling it.
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