40% Crash at TESLA ?
Updated
Hello dear readers,
I already made it clear in my last analysis that I see Tesla short in the medium term.
Now that further candles have formed on the chart, the situation can be assessed more accurately.
Chart-technical assessment
- Tesla currently appears to be in a correction.
- Only wave A has been formed so far, so there is a certain expectation that another wave (C) of the correction is coming.
- At the moment, the last sell-off is being consolidated in a pennant. A break of the lower trend lines should generate renewed momentum towards the south.
- As a classic trend continuation formation, an ABCDE formation is formed in a pennant. Two more waves can be expected within the pennant.
Options
- If the pennant is broken to the upside, the short scenario is in acute danger.
- If the golden pennant breaks around 770 points, the scenario is obsolete.
- The price target of a breakout on the downside is the zone around 400 points.
Best wishes & success!
Max
I already made it clear in my last analysis that I see Tesla short in the medium term.
Now that further candles have formed on the chart, the situation can be assessed more accurately.
Chart-technical assessment
- Tesla currently appears to be in a correction.
- Only wave A has been formed so far, so there is a certain expectation that another wave (C) of the correction is coming.
- At the moment, the last sell-off is being consolidated in a pennant. A break of the lower trend lines should generate renewed momentum towards the south.
- As a classic trend continuation formation, an ABCDE formation is formed in a pennant. Two more waves can be expected within the pennant.
Options
- If the pennant is broken to the upside, the short scenario is in acute danger.
- If the golden pennant breaks around 770 points, the scenario is obsolete.
- The price target of a breakout on the downside is the zone around 400 points.
Best wishes & success!
Max
Note
The breakout occurred on the upside. Now we have to wait and see. If the price turns at the GP, there is a chance of a trend reversal that would lead to a trade if the lower trend lines are broken.If the GP with the D-close the idea is obsolete.
Many greetings
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