TSLA Elliott Wave technical analysis [Video]
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TSLA Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (C) of B.
Direction: Upside in Wave (C).
Details: Anticipating one final push higher in Intermediate Wave (C), which appears to need one more leg up to complete the five-wave subdivision.
TSLA Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective
Structure: Flat
Position: Wave {c} of 4
Direction: Downside in Wave {c}
Details: Expecting another leg down in Wave {c} to finish Minor Wave 4. Price could touch the lower channel boundary before rebounding.
This Elliott Wave analysis for Tesla Inc. (TSLA) evaluates both the daily and 1-hour timeframes to outline likely market behavior using Elliott Wave Theory.
TSLA is progressing through the final stages of a corrective flat pattern. Wave (C) is expected to move higher to complete the current structure. Traders should watch for signs of resistance as this upward leg may mark the end of the broader correction before the next major move.
TSLA appears to be declining within Wave {c} of Minor Wave 4. A move toward the base of the price channel is anticipated, where a reversal could lead into a new bullish Wave 5, supporting the daily chart's projected completion of Wave (C).
Technical Analyst: Alessio Barretta.
TSLA Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
