Since March 2020, Tesla's stock price has increased by more than 1600%. These numbers are impressive.
Let's look at it from TA's point of view.
1. Since March 2020, the price has been moving in the trending fork channel and reached its upper limit at the beginning of 2021.
2. Since the beginning of 2021, a correction has begun, which in August led to the price leaving the trending forks
3. In the second half of 2021, the price returned to the trend forks again, and even updated the maximum (November 2021).
4. After that, the price began to decline and again went beyond the trend forks (December 2021).
What's next?
Built pitchforks using local extremes. It turned out to be a descending pitchfork. So there will be a decline.
But what are its goals?
1. To test the equilibrium channel and the median of the descending forks (level 740, May 2022)
2. Test the trend and lower boundary of the equilibrium channel (level 580, October 2022), which corresponds to 0.786 fibo
3. Next, the growth and test of the boundary of the descending forks is possible (level 1060, beginning 2023)
4. In case of going beyond the limits of the descending forks, it is possible to continue the growth and update the maximum.
5. If the price remains within the descending forks, then it is possible to decrease in the area (320, in the middle of 2024), which corresponds to 0.618 fibo
Let's look at it from TA's point of view.
1. Since March 2020, the price has been moving in the trending fork channel and reached its upper limit at the beginning of 2021.
2. Since the beginning of 2021, a correction has begun, which in August led to the price leaving the trending forks
3. In the second half of 2021, the price returned to the trend forks again, and even updated the maximum (November 2021).
4. After that, the price began to decline and again went beyond the trend forks (December 2021).
What's next?
Built pitchforks using local extremes. It turned out to be a descending pitchfork. So there will be a decline.
But what are its goals?
1. To test the equilibrium channel and the median of the descending forks (level 740, May 2022)
2. Test the trend and lower boundary of the equilibrium channel (level 580, October 2022), which corresponds to 0.786 fibo
3. Next, the growth and test of the boundary of the descending forks is possible (level 1060, beginning 2023)
4. In case of going beyond the limits of the descending forks, it is possible to continue the growth and update the maximum.
5. If the price remains within the descending forks, then it is possible to decrease in the area (320, in the middle of 2024), which corresponds to 0.618 fibo
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.
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.