Tesla Update
If y'all remember I have been saying for a while now that Tesla was still in a long-term bullish structure. Many people have went back and forth with me with many claiming it will be the next cisco. However, I have held steadfast in my analysis. I would hope that the price action since April would finally open people's eyes to this. Although I thought price would hit the lower end, I called the $130's as a bottom for Tesla at the end of last year / beginning of this year. They have many things going for them that will dramatically increase the value of their company. Tesla is much more than just a car company that sells EV's.
That being said, let's take a look at the more immediate pattern facing us. Currently I have us as either still in wave iv or already starting wave v of 3. Should we be in wave v then we're targeting the area of the 1.618 @ $299.56 next to finish the minor wave 3. If wave iv isn't done yet, then we should drop back down to the $230.06 area at the 0.382 retracement fib. For those haters that read this post (if they actually read it), this doesn't mean we make a b line for these targets. Price moves in cyclical patterns, and this is just a road map with the two possible destinations and not a detailed route of how we get there. This upcoming week we should get our answer on if wave iv is in fact done yet or not.
That being said, let's take a look at the more immediate pattern facing us. Currently I have us as either still in wave iv or already starting wave v of 3. Should we be in wave v then we're targeting the area of the 1.618 @ $299.56 next to finish the minor wave 3. If wave iv isn't done yet, then we should drop back down to the $230.06 area at the 0.382 retracement fib. For those haters that read this post (if they actually read it), this doesn't mean we make a b line for these targets. Price moves in cyclical patterns, and this is just a road map with the two possible destinations and not a detailed route of how we get there. This upcoming week we should get our answer on if wave iv is in fact done yet or not.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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