Tesla Wyckoff update #9
Tesla is in phase D of wyckoff accumulation. The stock should go up until earnings 19th October and then drop down. My prediction is that the stock will recover and then around 7th November phase E should start and take the stock up to 440 where I recommend selling as the stock will be very overbought on the weekly chart.
Note
Green line @280 is my buy postionNote
Selling @308Note
I was partly wrong. The stock is still wedging down along the two orange drawn lines. But the while lines I drew will only start from a lower point. We might hit 440 in early Dec?Note
We should break out of this 1 year wedge soon as the stock will most likely not go under the 200MA on the daily.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.