TSLA Might Still Have Some Legs
Although I do believe telsa is quite overvalued at the moment, I do believe she may have some legs to run here going into January before a larger correction.
Looking to flip the previous ATH into support here before a final pump which may be the short opportunity for Tesla.
Lets see how it plays out
Looking to flip the previous ATH into support here before a final pump which may be the short opportunity for Tesla.
Lets see how it plays out
Trade active
Taking the long trade from off the prev ATH. Note
paying attention to this downward trendline
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Potentially bat harmonic, would be considered bullish on the drop, reclaim of the prev ATH would be a great sign of strength.
Trade closed: stop reached
stopped out on the drop , will be looking towards 365 as my next level Note
Looking to take a new long trade on a reclaim of this downtrend. Will be watching a potential gap up on monday for this scenario with the potential harmonic playing out
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No reclaim of the level, and looking for further support.
I have realized we may be in a potential impulse wave here to the downside, as elliot waves are currently being respected with the wave 2 pivot at the 0.618.
Using the trend based fib extension, it is suggesting that we may revisit the weekly level at $352, in line with the 1-1 extension and a sweep of the previous low, into the weekly, before recovering higher.
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Also keeping an eye on something like this
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Nice
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Lets see the resistance above us in the coming days
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