Tesla Update: Nothing is Confirmed

Remember when I said Tesla was about to confuse everyone?? At face value Tesla appears to have hit a local bottom. However, nothing is confirmed yet and the confusion Tesla created hasn't been entirely cleared up yet. In fact, we have barely even begun to move up, so we must look elsewhere for clues.

I think we have started B wave for a few reasons
1. Hit the 1.618 of A-B waves
2. Hit the 0.5 fib of the wave (1) move up
3. MACD "appears" to be curling up w/ pos. divergence
4. NASDAQ looks to need a retrace
5. We have already been in A for 30days. That gives B & C roughly 40 days or so to complete.

None of these say that price is required to move up next. They are all guides used to help determine where we are headed. If this isn't yet B wave, then that means I am most likely one degree off, and we are about to retrace in wave iv. If this is the case, then I would expect us to hit the low $230 area before falling lower to complete A wave. Again, due to time frame this seems unlikely to me. Now, another way of looking at this, is that we have been in our main (C) wave since the $274 high labeled B. If that were the case, it would somewhat make sense for us to be in a wave iv, which would drag out this move down another couple weeks.

Below is another chart that is more zoomed out showing were we are at in the count and where we are headed if this is to be correct. I feel this week will be very telling for the longer-term outlook of Tesla. I will be watching tomorrow and update if I feel it is warranted.

The markets are very volatile right now and could swing hard either way, so be prepared and have your assets protected. Don't forget about stops!!!

Bonam Fortunam,
--Tyler

ความคิดเห็น:

What comes up next will determine if we're in B or iv

ปิดการเทรด ด้วยตนเอง:

Sold 25 shares for a scalp and will pissibly pick them back up on a retrace