Hello Traders,
In this Elliott Wave Analysis, we will have a look at Tesla in the 1-hour timeframe.
Tesla ended the cycle from 04/02/18 low (245.19) at the peak of 06/18/18 (373.85) in blue wave (1). Below from there, the stock is in the progress of correcting the cycle from 04/02/18 low in 3-7 or 11 swings lower in blue wave (2). The internals of blue wave (2) pullback is unfolding as an Elliott Wave double correction where red wave W ended at 07/05/18 low (296.05).
The internals of red wave W unfolded as a flat structure, where it ended black wave ((a)) at 06/26/18 (325.54), black wave ((b)) pullback at 07/02/18 peak (366.85) and black wave ((c)) of red wave W at 07/05/18 low (296). Up from there, it ended red wave X pullback at 07/10/18 peak (329.44). Below from that peak, it ended blue wave (w) at 07/24/18 low (292.35) and blue wave (x) pullback at 07/26/18 peak (310.63).
Near-term focus remains towards the area of 272.92-264.22, which is 100%-123.6% Fibonacci extension area of blue wave (w)-(x) before a reaction higher can be seen. As long as the pivot at 329.44 peak stays intact, we expect it to extend lower as the right side remains still to the downside.
In this Elliott Wave Analysis, we will have a look at Tesla in the 1-hour timeframe.
Tesla ended the cycle from 04/02/18 low (245.19) at the peak of 06/18/18 (373.85) in blue wave (1). Below from there, the stock is in the progress of correcting the cycle from 04/02/18 low in 3-7 or 11 swings lower in blue wave (2). The internals of blue wave (2) pullback is unfolding as an Elliott Wave double correction where red wave W ended at 07/05/18 low (296.05).
The internals of red wave W unfolded as a flat structure, where it ended black wave ((a)) at 06/26/18 (325.54), black wave ((b)) pullback at 07/02/18 peak (366.85) and black wave ((c)) of red wave W at 07/05/18 low (296). Up from there, it ended red wave X pullback at 07/10/18 peak (329.44). Below from that peak, it ended blue wave (w) at 07/24/18 low (292.35) and blue wave (x) pullback at 07/26/18 peak (310.63).
Near-term focus remains towards the area of 272.92-264.22, which is 100%-123.6% Fibonacci extension area of blue wave (w)-(x) before a reaction higher can be seen. As long as the pivot at 329.44 peak stays intact, we expect it to extend lower as the right side remains still to the downside.
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Pernyataan Penyangkalan
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14 days trial --> elliottwave-forecast.com/plan-trial/ and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.