Tesla technical analysis CMP 362
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.
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.
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