Analyzing the current trend of Tesla, I noticed that each retracement that has taken place since December '21 has been 9% greater each time. As you can see in my chart, retracement (1) was 27%. Retracement (2) was 36% and Retracement (3) was 45%. Using a trend line to define each uptrend following each retracement phase, it appears Tesla could reach $1,070 by July 13th before another 9% greater retracement follows, bringing us to a 56% retracement at $500.00. Despite what my technical analysis shows, I still remain cautious as the market conditions has been worsening and don't look all that promising.
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