Tesla Motors - TSLA - Weekly - Elliott Wave (Guess)
Updated
Long term chart after discussing the count with other users here at TradingView.
Don't bet your retirement account on this going to 1100, but that gives it a market cap of just over $100 billion, which may seem far-fetched but we never know.
Keep in mind the next big upleg could start from around the 200 level (down 20% from here). So, it's going to take more than a year to discredit this chart. I'd guess it will take a drop to $150 to invalidate this count.
Tim 251.93 last TSLA +11.69 today on the "Model-D Sneak Peak" after the close yesterday
Don't bet your retirement account on this going to 1100, but that gives it a market cap of just over $100 billion, which may seem far-fetched but we never know.
Keep in mind the next big upleg could start from around the 200 level (down 20% from here). So, it's going to take more than a year to discredit this chart. I'd guess it will take a drop to $150 to invalidate this count.
Tim 251.93 last TSLA +11.69 today on the "Model-D Sneak Peak" after the close yesterday
Note
Wave 2 has unfolded into a much longer, more complex pattern given all of the developments with the Model 3, Gigafactory, Driver-Assist/Autonomous, competition ahead from GM's Bolt, accidents, capital needs, 2ndary share sales, losses.... but that's growing pains! Stay tuned.Note
Wave 1 is probably best labeled as the build of the Tesla Roadster many years before. To label the IPO as Wave 1 may have been very premature. I'll get the dates from Wikipedia: Produced 2008-2012. So effectively the transition from the start of one model to the next was 4 years. Model-X has had a bumpy start, so that pattern continues. Model-3 is pushing the envelope for a much faster release.
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