TeslaShort
Tesla's Bearish Roadmap
Tesla's Elliott Wave structure is looking really interesting for a potential bearish move to take place.
With the current Elliott Wave structure of Tesla, we see a corrective structure underway:
We see a clear Zigzag structure unfolding for Wave (IV) of c, the expected target for Wave (IV) is at 419.52.
The invalidation level is at the peak of Wave c at 780.71.
Wave (2) of c of (IV) is now at the 61.80% Fibonacci level of Wave (1), a common Fibonacci level for Wave 2 to complete its wave formation.
Lastly, notice the third touch of the bearish trendline and the minor channel's resistance all lining up together to suggest a prime entry opportunity.
Let us know your thoughts.
Your feedback is greatly appreciated.
Thank you for reading, cheers!
With the current Elliott Wave structure of Tesla, we see a corrective structure underway:
We see a clear Zigzag structure unfolding for Wave (IV) of c, the expected target for Wave (IV) is at 419.52.
The invalidation level is at the peak of Wave c at 780.71.
Wave (2) of c of (IV) is now at the 61.80% Fibonacci level of Wave (1), a common Fibonacci level for Wave 2 to complete its wave formation.
Lastly, notice the third touch of the bearish trendline and the minor channel's resistance all lining up together to suggest a prime entry opportunity.
Let us know your thoughts.
Your feedback is greatly appreciated.
Thank you for reading, cheers!
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