Tesla ABC zig-zag projection for next few months
Hi Everyone,
Just to share my expectations for Tesla over the next few months.
This is based purely on standard technical wave formation, and assuming a ABC zig-zag takes place. It excludes company fundamentals and correlation to the overall stock market.
I think that we've completed a Wave A correction, and currently in the midst of a Wave B which should lead to a near term trading range between 600-800USD.
After this, I think we'll see the final Wave C structure being formed. If this is a similar magnitude to Wave A, this should lead to a price level below 500USD and reaching the weekly 50% Fibonacci retracement level.
The arrows in the chart are approximations, but can be updated once the sub-waves are counted.
Good luck!
Just to share my expectations for Tesla over the next few months.
This is based purely on standard technical wave formation, and assuming a ABC zig-zag takes place. It excludes company fundamentals and correlation to the overall stock market.
I think that we've completed a Wave A correction, and currently in the midst of a Wave B which should lead to a near term trading range between 600-800USD.
After this, I think we'll see the final Wave C structure being formed. If this is a similar magnitude to Wave A, this should lead to a price level below 500USD and reaching the weekly 50% Fibonacci retracement level.
The arrows in the chart are approximations, but can be updated once the sub-waves are counted.
Good luck!
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