Tesla Update
Updated
If you look at the price action from the $210.20 low, it appears to have created a 5-wave move higher with a 3-wave retracement. If that is the case, then it would be the first mini-wave 1&2 of wave v of 3. The ALT count is price being in a larger abc pattern. This larger abc pattern would point to the low $100 at a minimum. The breaking point for me is the wave 1 high of $198.87. If we breach that then I will start to track a larger abc move lower more closely.
On the daily chart, a golden cross is on the verge of forming. For those that don't know, a golden cross is considered a huge bullish signal. It forms when the 200MA crosses the 50MA. Something to also think about is the famous Kathie Woods ARKK ETF just bought over 7M worth of shares. That in itself doesn't mean much, but it signals other institutional entities are likely going to be buying up Telsa shares while it is on "sale". Hopefully tomorrow price takes off again and heads towards my target box.
On the daily chart, a golden cross is on the verge of forming. For those that don't know, a golden cross is considered a huge bullish signal. It forms when the 200MA crosses the 50MA. Something to also think about is the famous Kathie Woods ARKK ETF just bought over 7M worth of shares. That in itself doesn't mean much, but it signals other institutional entities are likely going to be buying up Telsa shares while it is on "sale". Hopefully tomorrow price takes off again and heads towards my target box.
Note
TV charts are messing up. Simply double click the price column on the right side of the chart and you will see my labels.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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.