Tesla is in a good position to buy , Take Profit on 50MVA. If it crosses 50 MVA on Day TF , it may touch 673.95 . Tesla is launching a new luxury model , retail investors are optimist about the news. IMPORTANT : It is not a financial advice . Just for education purpose.
26-May-21 NASDAQ:TSLA Breakout Failure on top. The chart structure is shifting towards consolidation and test of supports. Sustaining and closing below 601 in the coming weeks may well take Tesla to break the low of 546 & then proceed to achieve 450-36 to 420 range. The Down move scenario gets invalidated on successive closing above 670
Tesla stock predictions based on Wyckoff Distribution Pattern. Bullish long term. Planning to sell at $720 and accumulate again along downward consolidation phase.
If it holds 50% as resistance then it is likely to fall to 412-380 to complete (v) of 5. 665-670 should hold as resistance if wave count is right. 636 -640 is also resistance and counter may reverse from here. Not an expert on EWT. Just a random guess on wave count.
As we can see on the daily timeframe, starting from April 14, the price has been moving in a downward channel and Tesla has dropped by 30% from its highs that were in January of this year. Now the price has bounced off the support level and growth is possible, but most likely the price will continue to fall and may drop to $ 500 or $ 450, which will already be 50%...
#TSLA at a crucial level consolidating for a brakeout.#INVERTED HEAD AND SHOULDER #GO LONG
if 600 is broken then it may can go 580 NASDAQ:TSLA
Price forming perfect head and shoulder pattern and it is trading near the trend line. Good to enter if breaks the trend line and move further up. Target given !!
TSLA is looking for long opportunity to take the move to the upside.
EWT count is marked on chart. TSLA in 4th wave of corrective wave. Ideally it should stop at 38.2-50% of wave 3 but it can stretch to 61.8% ( can't take out low of 1). Price can retrace to 745-750 and then reverse for 350-380 zone. 777 is the GAP resistance which should not be taken out if this wave count is right. Disc : it's not an investment advice to buy or sell
Tesla has been trading below 200 MA for good period of time & has formed Bearish Pennant price action pattern which indicates a Bearish continuation trend signal. Using Fibonacci we also plotted that, Tesla is not able to break its 50% retracement level which infact is exactly at the price level where 200MA is standing. It’s a double & strong reversal sign. Also...
Price action suggest a favourable RR for trail target of life high slow and steady
Recovery towards 750-790 can't be ruled out where 4th wave may end of corrective A pattern of ABC. Then again next down leg may start for 450 to complete of 5tg wave. I don't have basic knowledge of EWT and not an expert.
Tesla completed an ABC zigzag. Wave C hit the 100% extension of A perfectly which is our most likely target. Maybe the last time we're seeing prices like this.