Tesla wyckoff update #6

2022년 6월 1일

Hello! Was a while since I did one of these analysis on Tesla. I would like to write that I was wrong last time and only realized it now. We are in phase C now not D as I previously thought. We can also see a nice inverse head and shoulders pattern wedging down since early November of last year. We should be breaking out of phase D around the same time as we reach this next move upwards in the wedge around 1100. If we take the price difference from the neckline to the head we will se that an increase of roughly 470 should be added on top of the price of 1100 when we finally get a break upwards. This means the price target should be around 1570 more or less for July month and then consolidate until August 4th when the vote for the split will occoure which could take the stock to 2400-2500 as the last split did. If we look at the RSI on the weekly chart it is possible to also see an inverse head and shoulders which when it continuous up to 1570. The stock will have reach overbought levels. However from the previous tops on the RSI we have always seen it reach much higher. This is why I believe that 2400-2500 is possible. What I do not now however is the ratio of the split. Some argue 1-20 because Alphabet and Amazon are doing it while others like me believe a 1-10 is more likely. Please comment what you believe the ratio will be and why!

This is not financial advice. Please be cautious with your money.