jdemunter

jdemunter

Tesla is following the expected path lower. Next stop is around 660. At this price level, look for a bounce on the trendline which will break eventually.

jdemunter

Tesla seems to be going lower and test 700. A small bounce is expected but price will continue going lower. A bigger bounce on earnings is expected. After that price should continue the downtrend and break the trendline.

jdemunter

Wave B(circle) got another leg higher but should be finishing today.

jdemunter

From the wave B top there is a corrective wave down. This is only the first part in a bigger corrective wave. Look for 730 as another turning point to continue the downtrend.

jdemunter

Price turned back down from the resistance around 770 and is now starting a new leg lower. The start of this leg is corrective, so look for this entire wave to be the same. Price target now stands at 420.

jdemunter

This is it ! This is a very interesting price for Tesla. The hunt for a wave B top could be over. A top comes when least expected and there are a crazy amount of ultra bulls around now. Let's see what the next couple of days bring.

jdemunter

Tesla is looking great ! Price is going up in premarket and looks like it is ready to break the wave (a) of B high. If the EW count is correct and the high at 900 was a major top, this rally won't go to new highs and will turn pretty soon. The wave B could top around 770, this is the level where wave (a) = wave (c) and where the 61.8% fibonacci retracement is.

jdemunter

600 is the price level to look out for. The bullish count is still possible but the bearish danger is increasing. This count shows the possible way down.

jdemunter

Tesla is showing signs of weakness. This increases the possibility that wave B has already ended at 720. Wave C would be a double three as the wave is not impulsive, correct label is Y but i'm leaving it at C until confirmed. Look for 600 as the next possible turning point. If this breaks and price stays below, it would give a very high possibility that the...

jdemunter

624 formed the wave (b) low and the wave (c) rally is now underway. This will end the wave B. Look 760 or 800 as possible turning points. After this, Tesla will not look good for a while.

jdemunter

The EW count is still the same as yesterday, wave (b) just extended into a larger double three. A wave B top higher is still expected. Let's see if Tesla can decide where it wants to go on this Quadruple witching friday.

jdemunter

After a slow period, Tesla is picking up speed again. Seems everyone was waiting the busy end of the week. For the EW count, price is looking to find the wave B top. Yesterday finished the small wave (b) as a double three corrective wave. Price action seems impulsive since. This would make the entire wave B a flat corrective wave. c waves in a flat are most...

jdemunter

The small triangle count got invalidated but price can still go to 800 either with a bigger triangle wave (b) or a regular double three (b). The possibility that wave B has already ended around 720 is still there. If this is the case, there should be a big move down soon.

jdemunter

It is looking more likely that the high at 720 was not the end of wave B and another wave higher is coming. Since there is a possible count for a small triangle wave (b) this puts a price target on 820 ! At this price there will a lot of selling pressure, that's why it is possible wave B ends up a bit lower. After that, price will resume the downtrend and...

jdemunter

Last week this wave B rally started. The minimum price expected was 720, the 50% fibonacci retracement. This price level was reached yesterday with a corrective wave completed. The question now is if wave B is already completed or is there another corrective wave up to complete wave B. There's a higher chance for a larger wave B, but the possibility that wave B...

jdemunter

Tesla had an impressive day yesterday. A rally was expected but this was very strong. Some short term profit taking should drive price a bit lower. After that price should once again rally higher. The alternative is that this is already the wave B high and price will drop from here.

jdemunter

Price is still in wave B but getting close to the wave A low. A rally is expected today. Either to form the bigger wave B, which will go above 700, or form a triangle wave B, which will see more sideway price action for the coming days.

jdemunter

At the end of last week there was a break of 600 followed by a nice rally to end wave A. This did not go as deep as expected but the pattern seems complete. The alternative is another quick wave down tot test 464 and finish wave A lower. This is most likely the start of wave B. Minimum target is 720.