Sliding In December: Is Tesla (TSLA) Losing Its Spark?
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
Losing all its spark? Nah. But, we see a correction for TSLA happening this December, starting within the next 1-2 days. Why?
- It’s currently bumping into price levels we last saw in 2022, which served as a strong ceiling back then and might trigger profit-taking now.
- It's well into a Wave 5 Elliott Wave, signaling exhaustion in 4h/8h/1D timeframes.
- Overbought.
Additionally, many are noting that Tesla’s valuation feels stretched compared to its earnings and growth prospects. Analysts point out that its current price may rely on overly optimistic assumptions about future market share, tech breakthroughs, and profitability. Some also highlight that competitors are catching up, which could eat into Tesla’s premium valuation. Meanwhile, skeptics argue that the stock’s recent run has simply gotten ahead of fundamentals, and a correction might be due as more realistic expectations set in.
We see a 10% slide to the $360 range.
Let's see what December brings.
Be Alert.
Trade Green.
Tslasignals
TESLA Will it turn the former 2-year Resistance into Support?Tesla (TSLA) fulfilled our August 15 buy signal (see chart below) as after the minor pull-back we expected, it rose aggressively on its new Bullish Leg of the 2-year Channel Up and came close to a new Higher High:
The correction of the past 4 days may be one last great short-term buy opportunity as it hit yesterday the former Resistance Zone of July 2022. If it holds, it will turn into its new technical Support Zone, thus will be an additional buy for out $380.00 Target.
Beyond that we need to see the ATH break before formulating a new strategic plan on the pattern that will emerge.
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Tesla Update Potential Great ROI Trade coming up Good evening or morning trading family
So I created a quick video on a update with Tesla which I felt was important to create for everyone. Currently we are retracing up from a target that I will show you how I got in the video. However two things to mention if we can break 260-263 range we are looking pretty healthy for a bull run up. However if we go back to retest 255.66 we could potentially face another break and further bearish momentum.
Any questions or comments let me know, like follow boost if you found this helpful
Have a great night trading fam
Mindbloome Trading
Trade What You See
Tesla Great Bearish Trade if We go South Good morning Trading Family
Currently with Tesla, an update we made a lower low which is great news for the bears. However we can still go to 213.82 and punch up hard with a bullish movement up.
However if we break down further this can be a great trade for the bears down to 190
Put your alerts in for 213.80-90 zone and lets see what happens with this news coming out today
Mindbloome Trading
Trade What You See
Tesla 4-Hour Chart: Path to $191 or $261?Alright, trading fam, grab your boards—Tesla’s (TSLA) chart just served up a crucial break below $213.78, and things are starting to get spicy. Think of that level like a solid wave that held you steady for a bit—until it dumped you off the board. Now that the market’s broken out of the channel, we’re eyeing $191.20 as the next potential landing spot. This could be where the bulls regroup and paddle back in for another try, but if they miss the chance, the market might pull us further under.
Now, here’s the exciting part: it’s not over for the bulls. If Tesla regains its footing and pushes above $223.70, that’s our green light to ride toward $261–264. This area is prime territory for locking in some early profits—it’s like the perfect wave where some surfers might hop off and call it a day. But if the bulls stay committed, they could break through that resistance and catch even bigger waves ahead.
So what’s the plan? Below $213.78, we stay cool and watch for $191—it could be a solid zone to hop back on. But if we reclaim $223.70, we ride that momentum to $261 for a sweet first profit. No need to rush or panic—just like surfing, it’s all about waiting for the right set and not forcing things.
If this breakdown gave you good vibes, boost it with a like or follow—let’s keep riding the markets together, one wave at a time.
Mindbloome Trader
TESLA pulling back on Q3 deliveries. Is there a reason to panic?Tesla (TSLA) opened considerably lower today as they announced Q3 deliveries of 463000 units, below the heightened expectations of around 470,000 from the buy-side and just slightly above the consensus estimate of 462,000. Is this a typical market overreaction on data or the start of a stronger correction ahead of the Robotaxi event next week?
Well from a technical standpoint, our thesis on Tesla is well known and hasn't changed since the August 15 update (see chart below), where we called for a $380 target within the long-term Channel Up:
Even on the more short-term 1D time-frame, we can see that the stock is respecting a Channel Up pattern that started on the August 05 bottom and for the past 30 days has been supported by the 4H MA50 (blue trend-line).
The last correction like the one we're having this week, was from August 20 to 28, which then rallied by +30.50%. As a result, the minimum Target now for November is $310.
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TSLA ( Tesla ) BUY TF H1 TP = 248.08 Good luck!On the H1 chart the trend started on Aug. 8 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 248.08
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
Tesla Wave Analysis: Key Weekly to 30-Minute Projections to WatcHey traders, here’s a quick Tesla update! We’re sitting around $238, and here are the key scenarios I’m watching:
Scenario 1: If we hold here, we could see a move up to $250 before a deeper correction.
Scenario 2: We might break down to $235-$233, then potentially rebound from there.
Worst Case #1: If a deeper correction happens now, Tesla could drop to $222, but eventually head toward $260.
Worst Case #2: If we break below $222, then $210 is imminent. This would be a major red flag, so we need to be careful—it could lead to further breakdown in the market.
What do you think? Agree with these levels? I’d love to hear your feedback on what you like, don’t like, or any thoughts you have. Let’s stay sharp and safe out there!
MB Trader
TESLA Huge gap down after Earnings! Buy opportunity in disguise?Tesla (TSLA) was down more than -8.00% in pre-market trading after reporting its lowest profit margin in over five years and missing second-quarter earnings expectations. This was largely due to cut prices to revive demand and increased spending on AI projects.
This however can technically be a buy opportunity in disguise as following the ATH Lower Highs trend-line of November 2021 break-out, a new bullish potential emerged and the pattern may very well be a Channel Up as so far the rally since the April 22 Low resembles the 7-month Bullish Leg following the January 06 2023 bottom.
The Target can be within the Resistance 2 level and a potential +194.87% rise (previous Bullish Leg) range. We update our long-term Target to $380.00, slightly below Resistance 2.
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TESLA Massive pump to $360 coming based on historical behaviour.Tesla (TSLA) is recovering today after a sharp pull-back yesterday of around -14%. This marks the stock's first serious correction since the rally started in late June. Ahead of an emerging Golden Cross on the 1D time-frame, we looked at Tesla's similar historical patterns since the IPO that offer remarkable insight.
First and foremost, Tesla's recent pattern has been an Inverse Head and Shoulders (IH&S), which as we've noted on a previous analysis, was its bottom reversal formation that made the price break above the 3-year Lower Highs Resistance trend-line.
Similar IH&S patterns were formed in 2019/20, 2016/17 and 2012/13. So we can claim that there might be a roughly 4-year Cyclical Behavioural Pattern behind Tesla's growth. The word 'growth' is key here as after every such pattern and more importantly a correction of around -15% after breaking above the IH&S, the stock price rallied parabolically into new expansion levels.
As you can see on the 2019/20 pattern the correction was around -10%, on the 2016/17 around -15% and on the 2012/13 around -15% as well. Yesterday's -14% correction along with today's sharp recovery to the 0.5 Fib (losses cut by 50%), seems to fulfil this growth pattern.
As far as a Target is concerned, on all previous cases, the price reached (and even surpasses significantly) at least the 1.5 Fibonacci extension measuring from the pattern's bottom (Head of the IH&S). In 2019/20 it took the price around 1.5 month to approach the 1.5 Fib while in 2012/13 it took roughly 2 months.
As a result, our new medium-term Target on Tesla is $360.00 (marginally below the 1.5 Fib).
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TSLA (Tesla) Technical Analysis and Trade Idea Upon analyzing TSLA (Tesla), we can see that it has been in a sustained downward trend. Notably, price has entered a critical support zone, exhibiting a double bottom pattern on the chart. Additionally, there has been a downward move beneath this double bottom, tapping into liquidity.
Given the significance of this support zone, I anticipate a reaction, potentially leading to a substantial retracement. Another noteworthy aspect is the imbalance above the current price range, which could serve as a target. Furthermore, I acknowledge the influence of seasonality in stock markets, a topic I delve into within the accompanying video. In the video, we explore trends, price action, market structure, and other essential elements of technical analysis.
TESLA Inverse Head and Shoulders formed. Is this the bottom?Tesla (TSLA) appears to have completed the Right Shoulder of an Inverse Head and Shoulders (IH&S) pattern, which is technically a bullish reversal structure that is formed on market bottoms. We have already talked in our previous analysis about the IH&S formed on the 1D RSI and as you can see by the circle drawing, this is consistent with the all previous Right Shoulder formations since December 2022.
As you can see, the long-term pattern since the July 19 2023 High is a Channel Down and this IH&S is the Lower High formation that should technically start the new Bullish Leg towards the pattern's top (Lower Highs trend-line).
As a result, our technical target is $245.00, which represents a Lower High level slightly lower than a projected +41% rise (last Lower High was +36%, the one before +31%, so we estimate a +5% progression). We will book the profit earlier though if the 1D RSI hits its Resistance Zone before the price reaches $245.00.
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TESLA made a Channel Down bottom. Buy but watch these breakouts.Tesla (TSLA) has been trading within a Channel Down pattern since the July 19 2023 High (which was an emphatic Lower Highs rejection on the ATH Lower Highs trend-line of the November 04 2021 All Time High) and on our last analysis (January 12, see chart below) we called for a tight SL buy but mentioned the importance of taking the loss quickly if the April 27 2023 trend-line broke and reverse to a sell on a $180.00 Target:
The price did make that bearish break-out and hit $180.00, a level that has been holding since last Thursday. Even though the fundamentals surrounding the company are very volatile, this is a strong medium-term buy opportunity from a technical perspective. Not only is it at the bottom (Lower Lows trend-line) of the 7-month Channel Down, but also the RSI is forming an Inverse Head and Shoulders pattern, which is a structure that has been formed on every single bottom since the December 27 2022 market bottom.
In fact the 1D RSI reached last Thursday those exact vastly oversold levels (17.50) it has last seen on that global December 2022 (price bottomed on January 06 2023) market bottom. As a result, there are much more reasons to consider the current level a strong medium-term opportunity than not. The technical target is $245.00, which represents a Lower High level slightly lower than a projected +41% rise (last Lower High was +36%, the one before +31%, so we estimate a +5% progression). We will book the profit earlier though if the 1D RSI hits its Resistance Zone before the price reaches $245.00.
If the uptrend is extended and the price breaks above the ATH Lower Highs trend-line (already has 5 rejections since November 2021), we will take it as a bullish break-out signal and target $315.00, which is the September 21 2022 Triple Top. On the other hand, if the stock closes a 1D candle below the Lower Lows (bottom) trend-line of the 7-month Channel Down, we will sell and target $152.50, which is the Support 2 level.
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$TSLA's $207.50 Price Target for a BounceIt's not looking too good for NASDAQ:TSLA holders right now. TSLA has 6 rejections off the yellow resistance line and has been dropping rapidly after the most recent rejection. The green trendline ($207.50) is a key support level on the way down, and there is likely to be a dead cat bounce there before further decline. For now, $207.50 is my short term price target for a bounce. I think NASDAQ:TSLA would be a bit oversold, so there is some potential for a long trade setup. However, TSLA is likely to underperform with its upcoming Jan. 24 earnings report. The forecast is higher than the previous forecast, which TSLA missed. I think there will be more pain ahead after a bounce off the green support line with some more downside in 2024.
TESLA Do or Die moment to break the 2021 Resistance.Tesla (TSLA) is extending the rally following the buy signal (see chart below) we gave on November 07 at the bottom of the 1 year Channel Up:
The price has had 6 green candles out of a total of 7 and looks to repeat the Bullish Legs of April - July and January - February. What's more important than that, is that Tesla is approaching its 'Do or Die' moment as for the 5th time in 2 years (since November 2021), it is about to test the Lower Highs trend-line of the All Time High (ATH).
This huge Resistance level has rejected the price 4 times already, always initiating strong sell-offs. The 1W RSI has already broken above its own Lower Highs trend-line of July, so this could be an early signal of strength accumulation.
If we get a 1W candle close above the Lower Highs, we expect the final phase of the Bullish Leg to materialize and that would have practically confirmed that Tesla finally officially entered into a new Cycle of long-term growth. The target remains $345.00, representing a +75% rise from the recent Channel Low (-20% from the previous Leg).
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TESLA Major bullish break-out above July's Lower Highs.Tesla (TSLA) broke today for the first time and even closed the 1D candle above the Lower Highs that started on the July 19 High. After 4 months of the bearish trend of this Falling Wedge pattern, today's move is a major bullish break-out for the long term as it opens the way for testing the All Time High (ATH) by mid 2024.
At the same time, the 1D CCI broke above its Lower Highs trend-line, which is always a bullish signal. Also this is the 2nd time that the 0.786 Fibonacci retracement level is tested, which is where both of the previous Lower Highs rejections took place.
On the short-term though we can follow the (dotted) Channel Up extension which after holding the 1D MA50 (blue trend-line) - 1D MA200 (orange trend-line) as the Support zone, can technically peak on a +19.80% rise, like the first bullish leg. That falls within the Resistance 1 - Resistance 2 zone. We will pursue the more modest target of 268.85 (Resistance 1). If the price then breaks above Resistance 2 (279.00), we will re-buy and target 299.50 (Resistance 3).
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TESLA Moment of truth for long-term buying. Will it fail?It was almost a month ago (November 03) when we called for the start of a rally on Tesla (TSLA) as part of the bullish leg towards the top of the Falling Wedge pattern (see chart below):
Today the stock hit our $250 target and immediately got rejected at the top (Lower Highs trend-line) of the Wedge. That was on the 0.786 Fibonacci retracement level of the previous Lower High, the exact symmetrical level where the September 15 High was rejected.
This is a critical moment for the trend as failure to break and close a 1D candle above the Lower Highs trend-line, will maintain the bearish structure of the Falling Wedge, forcing us to sell again and target the 0.618 Fib level at $217.15. If however we close that 1D candle above, the Falling Wedge gets invalidated and with that the bearish trend, which transitions into a Channel Up (dotted lines) on the medium-term. In that case we will dump the short (low risk with the SL on the Lower Highs) and resume buying, targeting Resistance 1 at $268.85.
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TESLA Bullish long-term if this level breaks, targeting $365.We have presented our short-term view on Tesla (TSLA) 3 weeks ago (see chart below) when we issued a buy signal on the Inverse Head and Shoulders (IH&S) bottom pattern that transitioned into a Channel Up, similar to the Aug 18 - Sep 15 bullish leg, that is very near to hit the $250 target as part of the Lower High formation on the 4-month Channel Down:
On the 1W time-frame, we see that the bullish trend of 2023 is still restricted by a long-term Lower Highs trend-line that started on the week of November 01 2021, which was the All Time High for the stock. If this Lower Highs trend-line (can be also viewed as the top of a Channel Down that only broke during the Dec 2022 - Jan 2023 market bottom formation) breaks, then Tesla most likely restores the bullish trend on the long-term.
It is very likely to do so immediately in the coming weeks as the correction since July can be interpreted as the Right Shoulder of a very wide Inverted Head and Shoulders (IH&S) pattern. If symmetry indeed exists between the two Shoulders, then Tesla aims at $365 long-term.
Since however we like to minimize risks at Tradingshot and take one target at a time, we will initially target $295, which would make a +52.28% rise from the October 30 Low, the lowest registered rise since the Bear Cycle started, and then buy after a pull-back.
Note that the 1W RSI already bounced on the Buy Zone that only failed once to give a rally, during the Dec 2022 - Jan 2023 market bottom formation, while the 1W MACD is close to forming a Bullish Cross, when all previous (three in total) occurrences delivered rallies of over +50%.
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TESLA Inverse Head and Shoulders starting a rally?Tesla (TSLA) has been trading within a Falling Wedge pattern of Lower Highs (Resistance) and Lower Lows (Support). The 4H MACD formed a Bullish Cross 2 days ago and last time we saw such a bullish formation this low, was on August 21. That was straight after the first Low of the Falling Wedge, which initiated the bullish sequence that formed the Lower High of September 15 marginally below the 0.786 Fibonacci retracement level.
The August Falling Wedge Low was, on a shorter term framework, the Head of an Inverse Head and Shoulders (IH&S) pattern. Technically this is a bullish reversal pattern seen on market bottoms and as we saw it didn't fail to deliver a rebound. Typically their targets are the 2.0 Fibonacci extension only that time the rise exceeded it.
We see the same kind of IH&S emerging on the current bottom of the Wedge and now is forming its Right Shoulder. This time, the 2.0 Fib ext of the IH&S is marginally below the 0.786 Fib retracement level from the Wedge's last Lower High. As a result, we will target $250, which meets all the criteria for a new Lower High of the Falling Wedge.
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TESLA Buy opportunity in disguise?Tesla (TSLA) had a massive opening drop yesterday and almost hit the 1D MA200 (orange trend-line) for the first time since May 31. With the 1D RSI oversold at 30.00 and Support 1 (212.50) formed by the August 18 Low just below, this sell-off may be a buy opportunity in disguise. If it holds, then the dominant medium-term pattern will emerge as a Descending Triangle and our target will be the Lower Highs of July 19 at 255.00 (just below the 0.786 Fibonacci retracement level, similar to the September 15 Lower High).
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TSLA - Is A Big Bounce In Progress??!!Technical Analysis:
- As you can see, wave (II) in blue has been completed and wave I in red is in progress
- Wave ((1)) and wave ((2)) in black have already been completed from wave I in red
- H1 & H4 right side is turning up
- Invalidation level 1 can't be crossed in short term
Technical Information:
- If you're a swing trader, wait for wave ((4)) in black to be completed to buy
- If you're a position trader, wait for wave II in red to be completed to buy