Update with full count TSLAElliott Wave Theory , which is a technical analysis approach used to analyze and forecast financial market trends. The text seems to be describing the potential Elliott Wave pattern of Tesla's stock price movement.
AT the low of $101.86 Tesla has formed its bottom, which is higher degree wave II .
This means that at a price level of 101.86, Tesla's stock reached what is considered a significant low point. This low point is identified as a higher-degree "wave II." In Elliott Wave Theory , higher-degree waves are larger in scale and represent broader market trends.
Thereafter it formed higher high and higher lows and formed miner degree waves 1, 2, 3, and it is under miner degree 4 as of now and 4th wave seems to be under completion.
After the higher-degree wave II, Tesla's stock price started to form a series of smaller movements: higher highs and higher lows. These smaller movements are referred to as "minor degree waves." Tesla has completed minor degree waves 1, 2, and 3, and is currently in the process of completing minor degree wave 4. This indicates a series of price movements within the broader trend.
We expect the higher degree (1) will complete near the minor degree 5th wave target of $335.
Once minor degree wave 4 is completed, the stock's price will likely move upward, forming a higher-degree wave (1). This higher-degree wave (1) is expected to reach a target price of $335. In other words, the stock's price is predicted to rise in a significant movement.
After completing wave (1), it will move for wave (2) with a target price of $191.
Once the higher-degree wave (1) is completed, there will likely be a corrective movement in the form of higher-degree wave (2). This corrective wave (2) is projected to have a target price of $191, indicating a temporary decrease in the stock's price after the expected rise of wave (1).
Disclaimer: Financial markets are subject to significant volatility, uncertainty, and various external factors that can impact price movements. Any investment decisions made based on the information in the chart are at your own risk. Before making any financial decisions, it is strongly recommended that you conduct thorough research, seek advice from qualified financial professionals, and consider a range of reliable sources.
The use of technical analysis tools such as Elliott Wave Theory involves a degree of subjectivity and interpretation, and past performance is not indicative of future results. All investments carry inherent risks, and there are no guarantees of specific outcomes or returns.
