Tesla technical analysis CMP 362

Feb 8

Analyzing price chart using Fibonacci retracement levels and Elliott Wave Theory.

Key levels are as follows:

$ 352: Strong support due to the 20 EMA and 0.68 Fib retracement. If it holds, a bounce could occur. That makes 352 a critical level—if the price holds and bounces, it could confirm the start of Wave 5
$ 320: If 352 breaks, this is the next major support, aligning with the 0.5 Fib retracement and a past trendline.
If the price holds at either of these levels, you expect it to start Wave 5, aiming for new highs. However, if 320 fails, the entire wave structure might need a bearish recount.

Feb 17

Trade closed: target reached

Perfect low of 320 which was predicted to be the second target has been achieved

Feb 27

Note

Tesla stock has broker 320 level and has started its downward journey here, might just be in a oversold zone as the EU sales have taken a hit and the markets overall are being a bit cautious and no great differentiation in Grok either to give it a momentum, CMP 290 can be a good buying zone for long term and keep adding at lower levels. -educational purpose only