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Tesla Elliott Wave Bearish Sequence Favoring More DownsideTesla ticker symbol: $ TSLA short-term Elliott wave view suggests that the cycle from 12/7/2018 peak is showing incomplete structure favoring more downside still. Down from that peak, the decline is unfolding as an impulse structure with sub-division of 5 waves structure in lesser degree cycles. When a decline to $279.28 low ended wave (1) in a lesser degree 5 waves structure. Above from there, Tesla corrected the cycle from 1/16/2019 peak ($352) in wave (2) bounce. The internals of that bounce unfolded as double three structure with lesser degree cycles showing the sub-division of 3-3-3 corrective structure in each leg. Up from $279.88 low, the initial bounce to $318 peak ended wave W also in lesser degree double three structure. Down from there, a pullback to $290.51 low as zigzag structure. Above from there, a rally to $324.19 high ended wave Y as Elliott wave zigzag structure. And also completed the wave (2) bounce. Near-term, as far as bounces fail below $324.19 high expect Tesla to extend lower in wave (3) lower towards $264.11-$243.39 area lower initially. However, a break below $279.28 low will add more conviction to this bearish view & avoid Elliott wave double correction in wave (2) bounce.
NASDAQ:TSLAShort
by Elliottwave-Forecast
TSLA Approaching Major Top at $420 (Elliot Wave 5)Although I personally am a big fan of Tesla and the cars, this analysis is not about my love of the cars but rather the balance sheet and technical analysis. It is no secret that Tesla (TSLA) is the most shorted stock in the United States right now. The balance sheet and cash flow make no sense (burning through billions of dollars in capital each quarter, constant net losses and never made a net profit for the last 10 years, and yet the stock price keeps going up). Despite all this, Elon and his magic make people believe (can anyone say "behavioral finance"?) However, if you look at the Elliot Wave macro outlook, it looks like TSLA is approaching wave 5 (which would mark the top, then a ABCD correction would follow) - and if the waves tell us anything, the "top" wave 5 would appear to be around $420 - the exact price Elon tweeted he would take his company private at today. This is not a recommendation to short TSLA stock - everyone who has done that for the last 10 years has lost money. Rather, it is an observation that $420 may indeed be the market top for TSLA, even if they do end up being a solid car company for many years to come.
NASDAQ:TSLAShort
by Trader9898
Tesla Elliott Wave View: Favoring More Downside To ProceedHello Traders, TSLA short-term Elliott wave view suggests that the rally to $317.51 high ended blue wave (X) bounce. The internals of that bounce unfolded as zigzag structure where red wave A ended in 5 waves at $302.64 high. Down from there, red wave B pullback ended as a Flat at $260.56 where lesser degree black wave ((a)) ended at $275.50. Black wave ((b)) ended in 3 swings at $315 high. And black wave ((c)) ended 5 waves decline at $260.56 low. Up from $260.56 low, a rally to $317.51 high in 5 waves ended red wave C & also the blue wave (X). Down from there, Tesla has made a new low below 9/07/2018 low ($252.25) confirming the next extension lower in blue wave (Y) lower. Where initial decline to $249 low ended 5 waves in black wave ((a)) of a possible Zigzag structure. Above from there, the stock is doing a bounce in black wave ((b)) in 3, 7 or 11 swings. Near-term, while bounces fail below $317.51 high expect the stock to fail for more downside. We don’t like buying it as the right side is lower & calling more downside against $317.51 high.
NASDAQ:TSLAShort
by Elliottwave-Forecast
Was Tesla the Canary in the Coal Mine for the Stock Market? After the SEC went after Elon Musk, we saw the stock drop 30%, but the chart already showed that a big reversal was in store for Tesla with a bearish divergence and a swing high failure on the RSI on the daily chart as well as the weekly chart. We also see that magical Canfield Fibonacci level show up at 17.944 as the top for Tesla. I debuted these fibonacci extensions in my last post here if you'd like to learn more about them and how I calculated them: This was the same level that Gold and Bitcoin were rejected at. You will see that Tesla hit the 17.944 Fibonacci extension and formed a massive bearish divergence and a swing high failure that we’ve seen on the Dow Jones, Amazon, Apple and many of the other charts I highlighted. AMAZON CURRENTLY FACING THE 17.944 with the same bearish divergence. Dow Jones facing the same bearish divergence. After this bearish divergence, Tesla had one more run back to the 17.944 before getting rejected and is currently retracing to the 11.09 Fibonacci extension. We saw a 50% fall from it’s all time high around $383 for a bounce around $194. Do the other charts and indexes I highlighted have the same fate in store? Monday will be a big day for stocks as they’ve already had one of the worst downward slides since May of this year. Bitcoin is still in undecided territory and I have highlighted both a bearish and a bullish scenario. Let me know what you guys think of the new Canfield Fibonacci levels and if they're helping you with your analysis. Monday will be a very interesting day...
NASDAQ:TSLAShort
by jacobcanfield
3
Tesla Analysis + PredictionsTesla is going to be trailing with some negative correlation at around a $315 price point. Tesla as a whole has been undervalued lately though as a stock due to short bets against Tesla's company. Numerous Wall Street analyst don't seem to be seeing positive growth for Tesla. This is likely the reason the company is transferring to private ownership. With many people concerned over Tesla's stock price and all the news surrounding shortening, it likely prevents Elon Musk from continuing growth or increasing morale for its corporate culture.
NASDAQ:TSLAShort
by gamer456148
2