Yesterday, Tesla extended a new low slightly below the previous one. Tesla is now at $205.37, clearing the way for the Alternative Count.
Thus, we can assume that we saw the overriding in November 2021 and have been in a correction since then.
Typical for the wave is a correction at least below the 0.618 retracement. Also common for the type of correction, according to the Elliott waves, is the 1.618 extension of waves and , which is just above the 0.786 retracement at $98.55.
www.elliottwave.com/...50A415C9E25B8A4.ashx
What this means for us is that Tesla stock is likely to fall almost 54% more. The next hurdle is at the $158.58 (-26%) where the 0.618 retracement is tested.
Tesla has lost almost 30% in the last 30 days, such an impulsive sell-off suggests that the correction is not over yet.
However, if the price now turns around and sustainably rises above $315.13, the alternative scenario comes into effect and we still see values around $400. After all, still with 40% likely.
Translated with www.DeepL.com/Translator (free version)
Thus, we can assume that we saw the overriding in November 2021 and have been in a correction since then.
Typical for the wave is a correction at least below the 0.618 retracement. Also common for the type of correction, according to the Elliott waves, is the 1.618 extension of waves and , which is just above the 0.786 retracement at $98.55.
www.elliottwave.com/...50A415C9E25B8A4.ashx
What this means for us is that Tesla stock is likely to fall almost 54% more. The next hurdle is at the $158.58 (-26%) where the 0.618 retracement is tested.
Tesla has lost almost 30% in the last 30 days, such an impulsive sell-off suggests that the correction is not over yet.
However, if the price now turns around and sustainably rises above $315.13, the alternative scenario comes into effect and we still see values around $400. After all, still with 40% likely.
Translated with www.DeepL.com/Translator (free version)