TSLA will meet prices below 500 before eventually meeting 1000 $
Updated
TSLA is currently completing it's wave 3 of C of B which means we are still in the correction and resumption of bearish trend will happen soon.
Important resistances are 763 and 825 corresponding to 0.618 and 0.786 Retracemenets respectively. A small correction and 1 more short ascending wave is predicted before the completion of whole wave B and starting down going wave C.
In this scenario, TSLA will fall below 500 and the correction will end at around 450 USD.
An interesting point is that TSLA and AAPL charts are very similar.
One may argue that descending trend line has been broken upward or Ichimoko system shows ascending trend but DO NOT FORGOT that these signals usually show themselves in a large wave B. So it is wise to be cautious about these kind of signals.
If you doubt about this use Multi Unit Trade Strategy and save some profit and you will not regret if the Stock follow the predicted scenario.
Good Luck
Important resistances are 763 and 825 corresponding to 0.618 and 0.786 Retracemenets respectively. A small correction and 1 more short ascending wave is predicted before the completion of whole wave B and starting down going wave C.
In this scenario, TSLA will fall below 500 and the correction will end at around 450 USD.
An interesting point is that TSLA and AAPL charts are very similar.
One may argue that descending trend line has been broken upward or Ichimoko system shows ascending trend but DO NOT FORGOT that these signals usually show themselves in a large wave B. So it is wise to be cautious about these kind of signals.
If you doubt about this use Multi Unit Trade Strategy and save some profit and you will not regret if the Stock follow the predicted scenario.
Good Luck
Note
It seems TSLA Lost the battle to 0.618 retracement resistance. I also mentioned nice overlap between descending trend line and this Fibo level in another post as well as bearish reversal on stochastic indicator.Now a trade below 677.84 makes being in down going wave more powerful and rejects the ending diagonal for wave C of B (Possibility of Ending diagonal is still valid).
Lets follow the market
Note
Now , we have a trade below 667.84 which means ending diagonal in predicted wave c is not possible any more, still there is a chance for TSLA to react to it's ascending trend line and go higher.Now a trade below 591.01 is necessary to confirm Tsla's crash.Note
Short term Ascending trend line connecting 539.49 and 591.01 is now broken. More than likely Midterm ascending trend line will be broken very soon. We are very close to get strong confirmation for completion of wave B.Note
Tesla opened below the Midterm ascending trend line. This defending line is no more existing. we are 1 step closer to get confirmation. Possible support zones for TSLA to go long will be published after that 100 % confirmation.Good luck every one.
Note
Now , we have a trade below 591.01 which confirms the completion of wave B. Be prepared to go long at the prices below 500. It is wrong to love or hate a stock. All stock will crash some day. These kind of feelings belong to company owners not traders.
Note
Note
These move ups are just subdivisions of internal structure of wave C or 3. Try not to get excited. We are still far from the target.Note
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