Elliott Wave Analysis: TESLA With Bearish Setup Formation

2021년 4월 15일

Hello traders and investors!

Yesterday we shared AAPL Apple and today we want to show you another, similar wave structure on TSLA Tesla.

As you can see, Tesla made an impulsive five-wave drop in February, which actually suggest a reversal from the top into a higher degree correction, as five-wave cycle is barely the first leg A of a three-wave A-B-C corrective movement.

Well, recent recovery looks like a complex w-x-y corrective rally in wave B, which is now trading at key resistance zone here at the channel resistance line around 61,8% - 78,6% Fibonacci retracement.

So, if we are on the right path and if Tesla starts sharply falling back below 700 region, then we should be really aware of much bigger sell-off within wave C that can push the price even down to 500-400 support zone.

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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

2021년 4월 19일

노트

Tesla on the way down as expected. Watch out for more weakness in upcoming days.

2021년 5월 24일

노트

Nice drop on Tesla since April, still room for 500 if not 400...

2021년 6월 25일

노트

Now that Tesla is recovering without hitting new lows, seems like wave B is going to be longer and more complex. Either we will see a bearish triangle or flat formation within wave B before we will see that sell-off for wave C towards projected 500-400 support zone.