TESLA is beginning the last move of its impulse rally since 2019. Given we just finished a triangle for wave 4, this is likely the 5th wave. 5th waves are conservatively either 1:1 or 0.618:1 ratio with wave 1. This puts TESLA to target at least 1764 if 0.618:1 ratio, and 3365 is 1:1. These are rough conservative targets and price action could definitely extend beyond though it is unlikely.
Note
Ive updated the elliott wave count. I no longer believe wave 4 is a triangle -- rather a zigzag A-B-C pattern 1:0.618 ratio. Ive labeled my new count of the current impulse wave starting in May. TESLA is incredibly bullish.[IMG]
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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.