Tesla UpdateIn my midday update last Friday, I mentioned that price has at least for now bounced off of the 0.854 retracement fib @ $236.82. It has yet to move higher or lower and my prior thought still stands. We're either in a mini-wave 2 or still in wave iv. I feel the prior is more likely, but the ALT (turquoise) iv is still on the chart for a reason.
As mentioned in a prior post, if this is mini-wave 2, then we should be targeting the larger 1.618 @ $299.56. If this is still wave iv then we should move towards the 0.382 retracement fib @ $230.06. I currently hold just 40 shares with the majority bought around $171. If price drops more towards the 0.382, I will probably buy more. If price continues to move in a standard pattern I will most likely sell about half of my shares @ the 1.618 and rebuy when the upcoming wave 4 is nearing completion. The key phrase here is, "if price continues in a standard pattern".
