TSLA, Be ready to go long at 460-70 or 370-420. Watch carefully!
Updated
As predicted, TSLA continuous it's path down to support prices. Now , we have a trade below 591.01 which confirms the completion of wave B and allows us to confidently estimate support prices to go long.
Combination of different types and levels of Fibonacci suggests two support price zones : First is 460-470 and second is 370-420. Interesting is that stock had nice reaction to both these zones when it was up going suggesting that both zones are strong. Mentioned support zones are shown on the chart.
Possible clear subdivision of wave C can help us to choose between these two prices, for now both zones are valid.
Stochastic indicator in weekly time frame is bearish and traveling to oversold zone. I guess it will be in oversold zone when price reaches to support zones. You know what it means? Possible major low at mentioned prices will last for several weeks.
We will enter at possible end of correction but keep in it in mind that there may be some alternative scenarios. I think , based on Elliot wave counting on monthly time frame, that more than likely there is still an up going wave to complete a large cycle 5 leg impulse but there are different types of Elliott cycles like ascending or descending anti cycles which remind us although low possibility, consider alternative scenarios.
Watch for bullish signals at proposed prices. one example of bullish signal can be a bullish reversal in stochastic indicator in daily time frame when
it is in oversold zone in weekly.
I shared my previous ideas on TSLA as well. Reading or re-cheking them may can help you to strengthen your TRADING VIEW.
Good luck every one.
Wish you huge profits !
Combination of different types and levels of Fibonacci suggests two support price zones : First is 460-470 and second is 370-420. Interesting is that stock had nice reaction to both these zones when it was up going suggesting that both zones are strong. Mentioned support zones are shown on the chart.
Possible clear subdivision of wave C can help us to choose between these two prices, for now both zones are valid.
Stochastic indicator in weekly time frame is bearish and traveling to oversold zone. I guess it will be in oversold zone when price reaches to support zones. You know what it means? Possible major low at mentioned prices will last for several weeks.
We will enter at possible end of correction but keep in it in mind that there may be some alternative scenarios. I think , based on Elliot wave counting on monthly time frame, that more than likely there is still an up going wave to complete a large cycle 5 leg impulse but there are different types of Elliott cycles like ascending or descending anti cycles which remind us although low possibility, consider alternative scenarios.
Watch for bullish signals at proposed prices. one example of bullish signal can be a bullish reversal in stochastic indicator in daily time frame when
it is in oversold zone in weekly.
I shared my previous ideas on TSLA as well. Reading or re-cheking them may can help you to strengthen your TRADING VIEW.
Good luck every one.
Wish you huge profits !
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
Tsla is disclosing internal structure of down going wave. Now, Prediction of target can be more accurate.
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