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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
Bullish Before EarningsKey points - Started parabolic run Feb 2016. - Found heavy support at the 61.8 fib extension - Down -20% this year, putting it in bear territory. Last report, Tesla beat estimates virtually across the board. Elon predicts profitability Q4. Options are implying a 8-10% move up or down which is huge, larger than the usual 5% shift. Notice how the 78.6 extension has served as heavy resistance and we've failed to break $325 three times. Decreasing volume and MACD crossover could give bulls momentum for a breakout with a $315 target. I would expect a correction soon after however, and generally sideways action until Q4 when the most important earnings report is released, going into 2019. I don't see it going higher than $315 short-term since weekly chart is bearish. Also, multiple failed retests and lower highs this month. Trade war prospects significantly impact Tesla's bottom line, and investors are showing caution based on technicals. Bottom line Cautiously Bullish (short-term) Entry: $300 Exit: Sell 25% at $307, 33% at $310 and let rest (58% long) ride until signs of bearish reversal. Stop loss: $296
NASDAQ:TSLALong
by MWCarter
Tesla Elliott Wave Analysis: Correction Sill In ProgressHello Traders, In this Elliott Wave Analysis, we will have a look at Tesla in the 1-hour timeframe. Tesla ended the cycle from 04/02/18 low (245.19) at the peak of 06/18/18 (373.85) in blue wave (1). Below from there, the stock is in the progress of correcting the cycle from 04/02/18 low in 3-7 or 11 swings lower in blue wave (2). The internals of blue wave (2) pullback is unfolding as an Elliott Wave double correction where red wave W ended at 07/05/18 low (296.05). The internals of red wave W unfolded as a flat structure, where it ended black wave ((a)) at 06/26/18 (325.54), black wave ((b)) pullback at 07/02/18 peak (366.85) and black wave ((c)) of red wave W at 07/05/18 low (296). Up from there, it ended red wave X pullback at 07/10/18 peak (329.44). Below from that peak, it ended blue wave (w) at 07/24/18 low (292.35) and blue wave (x) pullback at 07/26/18 peak (310.63). Near-term focus remains towards the area of 272.92-264.22, which is 100%-123.6% Fibonacci extension area of blue wave (w)-(x) before a reaction higher can be seen. As long as the pivot at 329.44 peak stays intact, we expect it to extend lower as the right side remains still to the downside.
NASDAQ:TSLAShort
by Elliottwave-Forecast
Tesla Stock: $300 Short TargetPeople love to be overwhelmingly critical of Tesla Motors, especially given yesterday's analyst call. However, Tesla is seemingly going to expand throughout 2nd quarter 2018. Even given how much money they burnt, they still technically surpassed revenue expectations and are a growing car company. Given where electric cars are heading as well as the moderate success of the Roadster and Model S, it is unreasonable to consider Tesla a failing company. The continuous bidding against it shows some short biases.
NASDAQ:TSLAShort
by gamer456148