Long

TSLA - ripe for a countertrend move?

Updated

Red count from the last update here seems to be the possible winner.

Got some decent RSI divergence going on here on the daily and 4h.

If this plays out as a leading diag to the downside, a retracement might very well go into 250+ before continuing further down.

Note

Notice the open gap around 147$ should it decide to give a kick deeper.

Note

Been a while here *cough*.

Closed the mentioned GAP at 147$ and a bit more, with an overshoot of the lower trendline, but ultimately played out this count (so far):

Pitchfork:

Trendline:

Some more Pitchforks in arithmetic view:

Channel in logarithmic view:

That is just to show that there is quite a bit of stuff coming up from here on and right above, that does not mean that it has to stop here.

There aren't any bigger signs of weakness yet, the internal count of the proposed C-wave doesn't look finished yet (unless you view the B wave as a not exactly ideal triangle...).

Sticking to the assumption that has been the count from the initial post here from 4 months ago, a leading diag to the downside, this could still easily keep going to 260$, 270$ or 280$ and still work just fine.

Note

Quite the reaction there at ~270$:

Internal count of the proposed C-wave looks like it very well could provide another higher high.

That being said, should we take out 300$ high, I'd be looking for something like this to setup the next long sometime next year:

TophatPandaMagician

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