Short

Tesla : Red times ahead

Updated

Tesla is moving lower in an impulsive way. This impulsive wave is a wave c of a final leg in a bigger corrective pattern. Inside this impulsive wave, price is in a wave 3. This is the strongest move and suggests important support will fail. 540 has the wave a(circle) low and just above that is the wave (a) of c(circle). After that it's a log way down to find support.

Note

Daily chart to show the triangle wave IV(circle) from late last year could act as support. It's also around the 100% fib extension for wave a(circle)

jdemunter

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