TSLA - Elliott Wave Analysis - Correction
Hi All,
I'm a long term Tesla Bull, but bearish short term, the price action suggest short term bearish price action.
Reasons
- No Catalyst until July Delivery Numbers
- No S/X Deliveries yet
- Nasdaq still in correction mode and has a room to come down, pressure on tech/growth stocks.
- Elon's tweets about FSD subscription(impacts financials) and FSD V9 release dates(impacts no financials on short term, helps perception which is good) are still in the air with no factual date of release.
- Elon's sudden move on BTC adoption, then again sudden reaction on it's rejection, creates only confusion and markets don't like it, but this will have only short term ~1 day impact on trading.
PS: This is just my opinion based on price action and macro level economics. Please be careful picking your trades.
I'm a long term Tesla Bull, but bearish short term, the price action suggest short term bearish price action.
Reasons
- No Catalyst until July Delivery Numbers
- No S/X Deliveries yet
- Nasdaq still in correction mode and has a room to come down, pressure on tech/growth stocks.
- Elon's tweets about FSD subscription(impacts financials) and FSD V9 release dates(impacts no financials on short term, helps perception which is good) are still in the air with no factual date of release.
- Elon's sudden move on BTC adoption, then again sudden reaction on it's rejection, creates only confusion and markets don't like it, but this will have only short term ~1 day impact on trading.
PS: This is just my opinion based on price action and macro level economics. Please be careful picking your trades.
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