jdemunter

jdemunter

Tesla had a nice rally from 100 to 300 in an impulsive wave up after an ABC corrective wave from the all time high. Since hitting 300 price has moved down in a corrective wave lower. This move is a wave 2 and could go to 180 ( 76.4% of wave a of 2 + 61.8% retracement of wave 1 ) or even to 150 ( equal legs inside wave 2 + 76.4% retracement of wave 2 ). Line in...

jdemunter

In the last post about Tesla I said price was ready to move up. This was a little too early but price eventually bounced from the 100% fib extansion around 101. This ended a nice corrective pattern from the all time high. Since this low price has more than doubled from the low in what looks like an impulsive wave 1 of a much larger wave 3. The wave 2 that followed...

jdemunter

It's been a while since i posted and since the last time where tesla was in a final wave 5, price has come down in a corrective way. This corrective wave, a flat with internal structure of 3-3-5, could now be over. The question becomes if this is the end of the correction or was this the first corrective wave inside a bigger correction, in other words, are we in...

jdemunter

What a crazy ride in Tesla ! It seems the 900 high was the end of a larger wave 3 followed by a wave 4 triangle. This would put price in the final wave higher. In a wave 5, all the news is extremly positive and all the bears are gone. Remember how everyone was buying tulips at the top? Tesla could still go much higher, but this might end badly for those who get in now...

jdemunter

Tesla did not go lower as expected but broke resistance and jumped higher. The last wave from the 560 low looks very corrective with lots of overlapping waves. The EW count has price in a wave (y) of B where this wave (y) got extended and is now a bigger triple three. Tesla earnings are coming later this week and have always had red days after release. It will be...

jdemunter

Yesterday Tesla went above 780 and looks to have completed wave B. The internal structure has wave (w) = (y) and wave w of (y) = wave y of (y). With the EW count completed, there's a big chance Tesla has topped.

jdemunter

Tesla has 2 EW counts at the moment that show a top is near. Either price goes above 780 to finish a double three corrective wave B or price stays below 780 and this rally was wave C inside a bearish triangle wave B, in this case a top might already be in. If price will go above 780 there will have to be another leg up inside the corrective wave y to form a...

jdemunter

Tesla looks like it's about to complete a double three corrective wave from the 540 low. It is important that the 780 high breaks to complete the wave. When this happens it will be the end of wave B. This will be an important top which will lead to Tesla going lower and eventually break the 540 low with possible much lower prices. Short term the chart shows a...

jdemunter

Looks like wave b(circle) will go above 780 to finish the wave. This will be a great place to go short or take profits for longs. An alternative count is a triangle wave b(circle), where price is now in wave d.

jdemunter

The previous count, that was looking for a wave 3 down, got invalidated. The next possibility is wave (b) of c (circle) is about to end and price is looking like it will continue the downtrend once again. This is again the most bearish possiblity with alternatives letting price go higher in the form of a wave b (circle) triangle or even a higher end of wave b...

jdemunter

The previous count was invalidated ( wave (2) went past start of wave (1) ) but the bigger count is still in play. So yes, a wave III (strong move down) is still expected. 635 invalidates the count and would mean wave (b) is not finished yet.

jdemunter

Tesla has been very quiet last week, expect this to change this week. Still waiting on the wave 3 to start.

jdemunter

Yesterday Tesla opened higher on Tesla numbers in China but price dropped the entire day keeping the EW count alive. Look for an event to trigger the big move like tomorrows CPI numbers. 571 is the initial low that will break followed by a break of 539. A wave 3 is the strongest move in a trend so look out for this move lower.

jdemunter

Yesterday a slightly higher price was expected before wave 3 could start. Today price is showing a classic 1-2 pattern with 5 waves down and 3 waves up, where wave 2 is at or near the end. Looking for a possible event to trigger this wave 3 could be the inflation numbers, some bad china numbers, anonymous hacking group action... Could be a wild week.

jdemunter

A big move down is coming for Tesla to take out 539 and eventually hit 420. Look for 612 or 620 as possible turning points for wave 3 to start.

jdemunter Updated 

Tesla is moving lower in an impulsive way. This impulsive wave is a wave c of a final leg in a bigger corrective pattern. Inside this impulsive wave, price is in a wave 3. This is the strongest move and suggests important support will fail. 540 has the wave a(circle) low and just above that is the wave (a) of c(circle). After that it's a log way down to find support.

jdemunter

With the decline in price yesterday, it seems 61.8% for wave c of (b) was resistance enough and Tesla is ready to continue the downtrend. First target is 540, after that, the drop in price should accelerate with 420 as a target.

jdemunter

Tesla is going up into resistance. After this test, price will continue the downtrend in wave (c) of c(circle). Tesla bulls will say it's crazy to think of lower prices in Tesla with all the good stuff coming but remember price is still high and there are real dangers of market correcting events like QE tapering, chip shortage becoming a bigger problem, inflation,...