Tesla – ABC Formation as Trend Continuation

#Tesla – ABC Formation as Trend Continuation

Current price: $435.8
Tesla is developing an ABC corrective structure that may act as a continuation pattern within the broader uptrend. Price action is consolidating after a strong impulsive leg, preparing for the next directional move.

🧩 Technical Overview
• The correction from the recent high appears to have formed a descending wedge, with the last swing down completing near the C-wave low.
• Price is now recovering from that area, suggesting a possible upward continuation phase.
• As long as the current low holds, the market structure supports bullish continuation through the upper Fibonacci levels.

📈 Scenario
• Structure: ABC correction completed; price attempting breakout to resume the dominant uptrend.
• Stop-loss: below the C-wave low (~$408).
• First upside objectives:
– $448–$458 — short-term resistance zone
– $470–$483 — key breakout area and prior swing high
– $507–$530 — potential extension zone if momentum builds
• A breakout above $470 would confirm trend continuation.

⚙️ Market Context
• The larger bullish trend remains intact after strong momentum from early September.
• Consolidation within the current wedge has reduced volatility — a typical setup before expansion.
• The pattern favors continuation as long as price holds above $408–$410 support.

🧭 Summary
Tesla is completing an ABC correction that could transition into the next bullish leg.
Holding above $408 keeps the structure valid for continuation toward $470–$530.
Breakout confirmation above $470 would reinforce the bullish scenario, while a drop below $408 would invalidate it.