TESLA (TSLA) - Bullish! The trend is your friend until...
until it bends...
Hello traders and investors, happy TESLA to you!
Hope you ride the trend, I still see potential in the up move. However, the last couple of days / a week, the impulse was so strong that can be considered a wave 3.
As you see in my chart, this could be wave 3 intermediate (blue) that we waiting for.
The long term pitchfork is respected, wave 3 is about to hit the upper boundaries. I am still bullish but I got the impression that this last overextended move needs a correction (wave 4 blue) in a similar size to wave 2 before resuming to a higher target.
Now, looking at the long term chart, we are approaching what I believe is going to be the end of cycle 3 (grey), so after this move, I won't be surprised if we will end up in a long-lasting sideway correction that should bring us back to wave 4 of smaller degree (around $620).
I personally hope that that will be the case to accumulate as much as possible before a new cycle wave 5
What do you see?
Hello traders and investors, happy TESLA to you!
Hope you ride the trend, I still see potential in the up move. However, the last couple of days / a week, the impulse was so strong that can be considered a wave 3.
As you see in my chart, this could be wave 3 intermediate (blue) that we waiting for.
The long term pitchfork is respected, wave 3 is about to hit the upper boundaries. I am still bullish but I got the impression that this last overextended move needs a correction (wave 4 blue) in a similar size to wave 2 before resuming to a higher target.
Now, looking at the long term chart, we are approaching what I believe is going to be the end of cycle 3 (grey), so after this move, I won't be surprised if we will end up in a long-lasting sideway correction that should bring us back to wave 4 of smaller degree (around $620).
I personally hope that that will be the case to accumulate as much as possible before a new cycle wave 5
What do you see?
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