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Elliott Wave Analysis of Tesla Bullish Perspective with CautionsHello Friends Here we had shared study of Elliott wave analysis for Tesla A bullish perspective with cautions, In the world of Elliott Wave theory, let's take a closer look at Tesla's chart. Here's what we found. On an intermediate degree, we've witnessed the completion of two waves, elegantly labeled as "Wave (1)" and "Wave (2)." Currently, the spotlight is on "Wave (3)," which tends to bring about significant market changes. Within Wave (3), we've ventured a step further by identifying "minor wave 1" of Wave (3). This delves into even greater detail, allowing us to see the inner workings of market dynamics. Zooming in even closer, we've navigated the world of "minute" degrees within "minor wave 1." This revealing sub-waves (i), (ii), (iii), and (iv), setting the stage for what's next - the anticipated "sub-wave (v). But that's not all. A promising development has occurred. Tesla has broken above the 0-B resistance trendline, signaling a potential shift in momentum and strengthening the case for a bullish scenario. In summary, the Elliott Wave analysis suggests a bullish outlook for Tesla, with the breakout above the 0-B resistance trendline serving as a confirmation. Long positions are an option, with target levels set at 400 and 500, and potentially more. However, caution is warranted, with an invalidation level set at 101.81. If Tesla's price were to drop below this level, it could indicate a different scenario - a potential double correction as double (a)-(b)-(c) which we can label as "W-X-Y" within "Wave (2). As always, no analysis is infallible, and surprises can still occur in the market. Risk management remains crucial. We'll eagerly await your further instructions to continue exploring Tesla's potential. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Thanks RK💕 Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NASDAQ:TSLALong
by RK_Chaarts
1
Could this be a potential trading opportunity for NIO?Hello Traders Hope you are doing FANTASTIC I am writing this idea to share my personal trading strategy for NYSE:NIO that has the potential to generate a 10% return within a day or two, depending on market conditions. Analysis: As you can see, NIO has been in a consistent downtrend in the month of August. This is due to the primary markets, such as QQQ, SPY, and DJI, consolidating and making lower lows. This downtrend is supported by the moving averages (MAs), which show that the 50MA is above the 9MA. The perfect downtrend of NIO in the 1H timeframe is merely a higher low on the weekly timeframe, which indicates that it is in an uptrend. Strategy: Based on my analysis, I am looking to short NIO at approximately $10.73 and hold until $9.61 for a 10.43% ROI. I am choosing to enter a short position for two reasons: 1) The downtrend has not yet been broken (the upper trend line has not been breached) and the price is continuing to go down even for the primary markets. 2) The 50MA is holding strong above the 9MA, which indicates that the downtrend is strong and there are no signs of a potential reversal. This is my take on the NIO stock. I would be happy to hear your thoughts and ideas. Thanks
NYSE:NIOShort
by Raghav_Puri
Could this be the right time to BUY LUCID?Hello Traders I have been tracking LUCID and other new Electric Vehicle (EV) Companies for about 5 Months now and based on my Support and Resistance Levels, NASDAQ:LCID has just bounced off my most lowest Resistance level which is at $6.19 and I expect it to do a reversal over the coming days or weeks (After markets has recovered). Now, we know that the lowest LUCID has ever gone was somewhere around $5.46 despite that, the overall market is bearish and we can only wait for a buying opportunity for some great returns. However, despite the negative earnings report we can definitely expect a strong recovery from $6.19 to potentially $6.94 to $7.00 over the coming weeks. My Strategy: I would wait and see if price fall below $6.19 (1) if it does then it is going to make a new all time lowest (95%) chance which means buying at the new all time lowest and being patience for price to come back to its average (2) if we see rejection(s) then we just have to wait for some conformations such as the 9MA crossing the 50MA (Signaling a potential uptrend) and price closing above (green candle) $6.40. Based on my trading experience I have made some nice trades with these conformations. My analysis above is conducted in the 1H time frame let me know your strategies or opinions on some EV companies.
NASDAQ:LCIDLong
by Raghav_Puri
1
AAPL - Monthly chart- Taking support at Yellow line If it remains above this level, please go long, for next target of 240 in the long run. Remember, analysis is only one part of the trading- may be investing, swing, intraday or scalping. In the five minute chart it closed below, 38% level, but only when it goes above it with sl just below 2,3% Second part is execution. Execute with the help of other indicators such as Williams %R, SMAs, EMAs,. Disclaimer, it is only for educational purpose. I am not a registered Analyst with any of the National or International Agencies. Please consult your Financial Advisor before making any decision. Check my analysis on AAPL. Link provided.
NASDAQ:AAPL
by rekhi567
ABNB on a very deciding positionABNB has seen a rapid fall in the recent past. Currently, the price is taking support from the 61.8% of fib level which also happens to coincide with a strong Order Block. On the hind side the price is trading below 200 EMA on all the timeframes starting from 4 hours, it is to be noted that the price has taken support from 200 EMA of the daily timeframe. It will be fun to see as to who wins the tug-of-war this week, lets sit tight and enjoy the show.
NASDAQ:ABNB
by Apex_Trading69