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TESLA - The Storm Won't Last Forever🌈Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. 📉 TESLA has been overall bearish trading inside the falling red channel, and it is currently retesting the lower red trendline. Moreover, the zone 55 - 70 is a strong demand zone. 📊 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand zone and lower red trendline. (acting as non-horizontal support) 📕 As per my trading style: As TESLA approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NASDAQ:TSLA
by TheSignalyst
31
Twitter-Apple feud all in Elon’s headTwitter owner and Chief Executive Officer Elon Musk told a Twitter Spaces conversation on Dec. 3 that Apple has fully resumed advertising on the social media platform. Musk noted that the iPhone and Mac manufacturer is Twitter's largest advertiser. Its return to full advertising on the platform follows a meeting between Musk and Apple CEO Tim Cook, wherein they "resolved the misunderstanding," which could have escalated tensions between the companies to the point where Apple would remove Twitter from its App Store. Near the end of November, Musk tweeted that Apple has "mostly stopped advertising on Twitter" with a question whether the company hates "free speech in America." Musk also claimed that Apple threatened to remove Twitter from its App Store without an explanation, following it with a Twitter poll asking if Apple should "publish all censorship actions it has taken that affect its customers." Following his meeting with Cook, Musk said his counterpart was "clear" that Apple never considered removing his company from the App Store. Twitter's advertising problems beyond Apple Even before the tensions with Apple, Twitter has been faced with other companies pulling out or reducing ad spending on the platform, particularly following Musk's takeover of the social media company in late October. Musk's plans to revise Twitter's system of handing out blue check marks for verified account through an $8 monthly payment did not sit well with many companies after initial rollout resulted in a number of impersonation incidents that affected brands on the site. There were also worries regarding the new owner's approach to content moderation and account suspensions, among other issues. Musk has since paused the verification program, with plans to revive it once concerns with imposters have been resolved. The next phase of the verification system is expected to include color-coded check marks that will distinguish the verified accounts for companies and government officials from those for individuals. Roughly 90% of Twitter's revenue is generated through advertisements. With big brands including General Motors, General Mills, Mondelez, Volkswagen AG's Audi and Pfizer Inc. deciding to pause their ad spending in recent weeks, it is no wonder Twitter is scrambling to avoid further retreat from happening. In an effort to retain advertisers, Twitter has ramped up its incentives offering to the point where it will match an at least $500,000 spending increase commitment with a "100% value add", up to a $1 million cap, various media reported, citing an email from the company. It is being pegged as the "biggest advertiser incentive ever" on the social media platform and is valid for advertising that runs before the end of 2022, according to people familiar with the matter. To alleviate some concerns, Musk had also been reassuring advertisers both publicly and privately that Twitter will remain a safe space for brands. He also encouraged companies to publicly air their concerns about the site by tweeting at him.
NASDAQ:AAPL
by BlackBull_Markets
1
Dogecoin’s December trajectory Dogecoin has now made its way through a trend reversal, after its sharp rise and pullback in the back half of October and first half of November. In October, DOGE began a massive rally, gaining over +150% in just five days. About half of these gains have been given up now as some traders booked their profits. In the middle of November, Dogecoin experienced a period of consolidation between 0.0742 and 0.0900 creating a double bottom at the same time, giving the first possible signal that the coin was ready for a trend switch. The trend reversal was confirmed by the Fisher Transform Indicator on the daily timeframe. A crossover between the indicators signal lines can be witnessed after it created support at 0.07450. Since then, we have seen the price move to the upside, breaking above 0.0900, a previously strong resistance. Looking at the current price action at the start of the week, DOGE may be in a new area of consolidation and trying to break the resistance at 0.1070. Looking back at the Fisher Transform, we can see that it is again indicating a crossover signal, which may hint that DOGE is posed for an upside breakout. If the price successfully breaks the resistance at 0.1070 and manages to close above the daily chart, the next price target to watch includes 0.1420 if the momentum is strong enough. Besides the technical side of Dogecoin, it might pay to keep an eye on news emanating from Elon Musk by way of Twitter. Speculation has been rife that Musk will announce that the social media platform that he recently acquired will adopt Dogecoin as some form of payment method. Last week, Musk shared slides from a presentation he gave to the Twitter leadership team detailing his version for ‘Twitter 2.0’. Included in the presentation were slides related to ‘payments’, opening speculation that Musk may be wanting to form some kind of integration with his favourite cryptocurrency.
BINANCE:DOGEUSD
by BlackBull_Markets
The Secret Behind TSLA's 8% Jump on 11/23 - just getting startedI noticed the stars aligning on TSLA, and now much that has happened since Elon took over Twitter is starting to make sense. 1) Elon mentioned back in October it was likely TSLA would do a $5-10B buyback 2) Biden's inflation reduction act creates a 1% excise tax on all Stock Buybacks starting 1/1/23. At a $10B buyback, this represents a $100,000,000 unnecessary liability to the company - meaning Tesla is either going to do a buyback before end of year...or never. A $10B leaves the company in a very strong position w/ a Debt Ratio of .27. The benchmark for a strong company is .4 - meaning Tesla could easily buy back anywhere between $10B or as much as $13.5B of stock and stay in a strong position. 3) TSLA's super hyped and long anticipated Semi 1st delivery event is slated for 12/1. These events have typically sent TSLA shares soaring (even the cybertruck debacle) 4) The chart below shows abnormal relative volume by time period. I recognized a similar pattern when Elon was SELLING shares to finance Twitter earlier this month. Tesla's board isn't dumb and w/ Elon as CEO knew this would depress the price and create a buyback opportunity. 5) Tesla is presently flush with cash ($21B) and has easily manageable debt ($3B). A $10B buyback at $170-180/share would equate to 56M shares. Tesla's 3M average daily volume: 74.7M - volume today: 108.2 (45% ABOVE avg volume) - 33.5M excess shares. This likely indicates TSLA bought back around 25-28M shares. 6) TSLA is well in the green this year - yet the don't issue dividends. I'm not 100% certain on this point, but I believe a company purchasing it's own stock can offset profits and reduce it's tax liability. Tesla doesn't issue dividends, so there's no reason to hold the cash reserves to incur the 21% corporate tax rate. Add to this the fact that the stock got crushed the last 2 months - falling from $308 to $168 (45%), and every Tesla share holder is very eager to stop the bleeding. What to do...what to do??? 7) Elon's tweets have been a hotbed for moving TSLA, DOGE, and TWTR shares in the past. Since the Twitter takeover, Elon has been mostly mum aside from some very vanilla posts about TSLA - nothing that would dramatically impact the price. 8) Short volume, while not excessive, will add some fuel to the fire as they cover positions. Tesla will rebound in dramatic fashion the next few weeks as will the broader market. Corporations saw record profits in Q2 of this year, and if my assumptions on buybacks reducing a corporations tax liabilities are correct - the entire market will likely see a very merry santa rally. Even if a corporation is forced to pay tax on stock buy backs that is similar to corporate tax of 21%, delaying beyond 12/31/21 makes zero financial sense for companies in a strong financial position like Tesla. My very bold prediction: Tesla finishes 2022 in dramatic fashion over $250/share. Closer to $300/share isn't out of the question.
NASDAQ:TSLALong
by DontListenToThisClown
1
Twitter Goes Bullish (Can It Hit Above $120?)Twitter (TWTR) has been on the headlines lately with Mr. Musks stealing the show... Is he doing a good job? Let's ask the chart. We can see a low hit March 2020. We have a long-term higher low hit February 2022. The peak happened February 2021 followed by a year long correction. After this correction, bullish signals are starting to show up. First, we have a rejection April/May this year around EMA50. Another rejection at EMA50 in August followed by only 3 weeks red. Now, the Twitter (TWTR) stock managed to conquer this level late September early October 2022 and the ball changes hands towards the bulls. We had a volume breakout three weeks ago after TWTR conquered EMA50, which supports this move as real and strong. This week is also full green and you see on the news what has been going on. Based on Fib. projections and the chart structure as a whole; This is the weekly timeframe... Twitter is getting ready to grow. CHANGE Short-term a breakdown and close below $44.44 would send a negative signal but the chart would still be leaning bullish. A break below the down-trendline or the July low would be much worse and the analysis would be invalidated as the bears would gain control. CONCLUSION Twitter can move above $100 but we have to see how $68 is handled on the next bullish jump. Thank you for reading and for your continued support. Namaste.
NYSE:TWTRLong
by AlanSantana
11
ELON MUSK QUOTES FOR POWERFUL THINKING ELON MUSK QUOTES FOR POWERFUL THINKING Elon Musk is today's Nikola Tesla. Here are 11 Elon Musk quotes to make you start working on your dreams, no matter how impossible they might seem. “I do think there is a lot of potential if you have a compelling product and people are willing to pay a premium for that. I think that is what Apple has shown. You can buy a much cheaper cell phone or laptop, but Apple’s product is so much better than the alternative, and people are willing to pay that premium.” “When something is important enough, you do it even if the odds are not in your favor.” “What makes innovative thinking happen?… I think it’s really a mindset. You have to decide.” “I’ve actually not read any books on time management.” “It’s OK to have your eggs in one basket as long as you control what happens to that basket.” “The first step is to establish that something is possible; then probability will occur.” “I wouldn’t say I have a lack of fear. In fact, I’d like my fear emotion to be less because it’s very distracting and fries my nervous system.” “I say something, and then it usually happens. Maybe not on schedule, but it usually happens.” “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” “As much as possible, avoid hiring MBAs. MBA programs don’t teach people how to create companies.” “It’s very important to like the people you work with, otherwise life your job is gonna be quite miserable.” Remember that your mindset is 80% of your future success, dear traders.
OANDA:XAUUSDEducation
by TopTradingSignals
9
🔥MUSK👽 and DOGECOIN🐶: how Elon's tweets affect DOGE❓ 🔥Hi friends! I hope you will help me the to launch this idea to the moon pushing the BOOST button🚀, so that even Mr. Musk could see what he was doing to DOGE. 📊 Elon and Doge relationship starts back to December 20, 2020, when Mem Lord said: "One word: Doge". Since then, everything has changed for Dogecoin and for the entire crypto market. 🚩 The coin grew by over 18400% from the first Elon's tweet to the all-time highs. Only 3 tweets make the retail trader the very rich person. Also, after the end of the Bitcoin bull market, the coin fell from all-time highs to the local bottom by 93%. It's mean that if you invest $10000 at the peaks, you would have $700. So you need to clearly identify the best place to buy the coins on spot. ✅ Any volatility is good for the traders. I can'e even say how much easy long trades with 1:30-50RR I opened. So if Elon continue to tweet again, which I personally have no doubt about, we will have amazing chances to grow our deposits. I will told you about such possibility in the upcoming ideas. 🚩 Perhaps it was the influence of Mr. Musk that allowed Bitcoin to reach all-time highs earlier and lower than planned. The fact is that Bitcoin usually grows step by step with 40% corrections. This is a kind of cleansing from weak hands. But this time, Bitcoin did not even have time to be corrected due to the permanent heating of the media environment. ✅ Therefore, Bitcoin grew by only 2108%, in comparison to the previous bull cycle, where the main cryptocurrency was able to grow by 11798%. But this is a scenario for another idea!) 📊 On June 19, 2022, Elon said that he will continue to support Doge despite the statements of officials that Billionaire made people lose almost $ 258 billion. Strangely enough, it was the best place to buy this crypto. It was the cheapest price for years. 📊 DOGE back starts scyrocketing again when Musk posted a video how he entered Twitter head office. It was enough for many people to understand that the meme Lord and meme coin story continues. 📊 1 November, 2022, Elon Musk👽 continues to do his tricks. The billionaire posted a photo of a dog wearing a T-shirt with the Twitter logo. As I said earlier, Dogecoin could become the main currency in the "new" Twitter. Most likely, this is what he is hinting at😉 ✅ Take a look on the chart with the biggest DOGE hodlers (>0.1% of supply). The numbers of the whales wallets starts to grow when Elon strarted to tweet about DOGE. In May this number fall from 94 to 72 wallets. This mean that a lot of whales sale their coins to the retail traders and make really good money! 🚩 Now we see that the least whales were in August, exactly when Dogykoin was at the bottom. Yes, during the bear market, the number of whales holding Doge decreased, because even whales sometimes do not have a strategy. The last few months whales have only been buying Dogecoin and their number has increased from 61 to 73! The whales still buy the DOGE but I recommend you to wait the better price after the some pullback or clear trading setup. 📊 A lot of people pay their attention to the hype coins which pumped on Twitter and Elon news . And now it's not the best time to buy it. I told you about DOGE, SHIB and BNB almost 1 month ago when they still was at the bottom. 🔥Now I recommend you to pay your attention to the next coins that related to Binance because this exchange invest $0.5 billion in Twitter and will create crypto solutions for this social network: 1. TWT is the Trust Wallet Token. The Trust Wallet supported by Binance, so i think when Binance start to implement crypto solutions, such Binance supported coins just blow up! 2. BSW is another Binance supported platform that help make payments. 3. BNB is already grow by 35-50% but still have great potential for the mid-long term. 🔥 Traders, what do you think about DOGE? Does it have a chance to reach it's ATH again? Will Elon continue to PUMP it? Write your thought in the comments! 💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
3
TESLA down the drain. Fake FSD BS Mollusk under criminal probe due to extensive PR over-hyping of so called FSD, which is a fake BS. Twitter deal going to get finalized. Very high OTM put flow with over 11% OTM expiring this Friday (October 28, 2022). Google (Waymo) has been researching self driving technology for the past 10+ years with over $10 bn cash injection every year. They couldn't make a proof of concept of Level - 5 autonomy yet because of giant challenges (perception, localization, navigation, appropriate response to unexpected scenarios like a human) which are impossible to solve. All kinds of machine learning methods available in the state-of-the-art, used for training robots need huge amounts of training data (images, videos, etc) of exact scenarios that are to be expected by a robot. That's why you see all those Argo, Waymo cars, etc. every day on the streets making routine data collection trips on the same streets every single day. What if there is a dramatic change in the scenario on a road between two data collections? How good can the generalization of decision-making be when there are very few to none of those scenarios in the previous training data? Relate this statement to all the Tesla crashes under FSD. Any robot (including a self driving car) is 100% manually programmed software (explicit instructions hard coded to tackle different scenarios). There is the problem. How can one imagine/ predict all kinds of unexpected scenarios beforehand when those scenarios would have been never faced by anybody ever before in the history? No scientist has 100% understood the nitty-gritties of every human's brain to judge how will any human behave in any given time. It is simply impossible. Yet the crooked Mollusk claims he understood a pig's brain 100% by attaching some toy probes to its head (Neuralink claim, rebutted vehemently by the scientific community all around the world as a false claim). Self driving means, expecting a wheeled robot (Tesla car) to perform as realistic as a human (literal replacement for a human). Which is by itself deeply flawed because of my previous point (no scientist has understood human brain 100% yet). A Tesla car is truly just a car with some advanced ADAS features. It should never be marketed as anything close to self driving. The FSD claim is simply a blatant lie. My opinions are not supposed to be your investment advice. Please do your own DD and come to your own conclusions.
NASDAQ:TSLAShort
by crazygardner
Conservatorship MarsArticle Free Britney! Er… I mean shackle SpaceX? It'd be difficult to find someone who hasn't heard about Pop Star Spears' unjust conservatorship granting her father total control of her life. However, finding someone who knows that companies can be put under conservatorships would be quite rare. Many would know of the two biggest companies that were put under federal conservatorship not more than 14 years ago. In the middle of the Great Financial Crisis, in late 2008, Fannie Mae and Freddie Mac were put under conservatorship. Their CEO and executive board immediately dissolved, and a government appointed administration took control. Just a few months before, a small bank was put under conservatorship to peel their healthy assets away from the toxic ones - IndyMac bank. There is a Conservatorship, where the company is taken under control with temporary management to clean house until the company can be more privately handled. IndyMac Federal Bank (the conservatorship name of IndyMac) just ended theirs' with the sale to OneWest Bank, a division of First Citizens Bank. Fannie Mae and Freddie Mac's continues, likely indefinitely. And then there is a Receivership, where the company is taken under control with the explicit purpose of selling assets or closing the business entirely. It is likely this distinction becomes important as financial strains continue to develop in banking institutions, fixed income funds, and insurance groups. Conservatorships happen all the time. Well, more frequently than most might guess. The National Credit Union Association has put two credit unions under conservatorship this year (and two more in involuntary liquidation). Last year's tally was four and four, respectively. Yet these are still rare events where most search results yield 2008's Fannie and Freddie as the top and loudest hit. With all the prominent anti-monopoly and pro-competition speak coming from both sides of the aisle, powered by numerous lawsuits across the country against some of the largest tech companies in the world - the word might come back. There are many possibilities to explain Musk's behaviour over the last few months. The one I'd like to point to is the $1 billion dollar clause preventing him from reneging on a bad deal that has more financial implications than he thought through, a surprise assuredly. Everyone's gotten their enjoyment out of the Chancery court circus of Twitter v. Musk, and we might feast still. Musk's big announcement yesterday (10/20/22) of laying of 75% of Twitter staff is a bit too magnanimous to be taken as anything more than chucking a brick in a house of mirrors. The recession is just setting in, with more downturn left to go. A cut in staff is natural and predictable, 75% in one announcement is an extinction event. But wait, there's more. If Elon Musk did have private conversations with Vladimir Putin or any official leader of Russia, and form agreements or discuss in of national security level importance details, he might be doing time. No surprise that shortly after Bremmer's story claiming Musk had private talks with Putin about events that might lead to an escalation to nuclear war, using Musk as the primary source, a second story about the FBI investigating the matter broke. Honestly, it's 50-50 whether Elon lied to Bremmer to give himself clout, or he really did talk with Putin. To condense this saga, SpaceX cut the Starlink network over Crimea and Russia's "occupied" territories, before quickly turning it back on with Musk making a twitter-tantrum about not getting paid for the system's use. Where Elon Musk's behaviour might thwart an image of stability for a corporation, he runs quite a few. While most are little more than fancy, Tesla and SpaceX are becoming systemically important institutions. Elon Musk's purchase of Twitter should have always faced FDIC and DOJ resistance, and my hypothesis is that Musk wants to push that - in conjunction with Twitter's desire to re-neg the deal. Twitter may never get valued at $44 billion again, but Musk is working very hard to paint the picture that Twitter, the company, dies when it's his. Musk may have gone too far this time, even further than a $1 billion contract termination fee. Conservatorship is the word. Actually, this author thinks "Person" is the word. Technically (the best -ally), it is these Delaware Code words, Delaware being the state of incorporation for all of Musk's companies: (10) “Person,” except in the term “person who is incapacitated” or “protected person,” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. -https://delcode.delaware.gov/title12/c039a/index.html Musk's personal business should remain personal (at the least I don't want to hear it), where as there is a point where his professional business shouldn't. SpaceX is the most advanced Space Technology company in the world. Starlink is a globe-spanning satellite system rivaling most first-world countries. Tesla is the largest EV company with important technology for electrical grid infrastructure. Twitter is an important nexus of globalized communication. There is a point in time and importance that shenanigans go from too much, to done. The shadow of a mushroom cloud, even if a low probability, is right around that point. A conservatorship could be as brief as removing Musk as CEO and instilling the President and COO, Gwynne Shotwell, as the acting-CEO. Or the government could take it's time and untangle all the threads that being the Space race ace gives them. While Starlink is a product that fit's SpaceX, massive satellite swarms tend to compete for money and SPACE. Forcing Starlink off SpaceX's books would enable other companies to bid for satellite delivery. This mimics recent Federal government regulations prohibiting internationalization of corporate activities, the same activities that allow tech companies to bubble their sales and assets on the back of accounting loopholes. Musk might find himself the poster boy for it, but there are quite a few sectors and industries that benefit from conservatorship. Abbott labs made its own case clear on the backs of three dead toddlers from contaminated formula that led to a formula shortage that still hasn't fully resolved. While the media has been kind on the details, the event highlighted years of bribery and corruption by FDA officials monitoring the plant, as well as possible communications that showed an open culture of bribing government officials and ignoring safety issues at the highest levels of the company. In the game of probabilities, a conservatorship is towards the bottom of the deck, but maybe it shouldn't be. Twitter Deal itself The joy of this deal was that there were going to be oscillating periods for buying and selling into it. The Musk-Twitter deal is the right mix of stupidity to cause many more problems than anyone expected. First, it is increasingly likely that the US government stops this deal. If that were to happen, it is likely Musk would have to pay the $1 billion termination fee if his actions and behaviours were found to be at fault, i.e. Twitter must prove that the government stopped the deal because Elon Musk's actions. Second, it is increasingly like that Twitter the company wants out of the deal. Twitter doesn't have $1 billion to give to Musk, as they are likely to face steep cuts without the buy - but 75% is a tough thing to wake up to. There will be destruction to the integrity of the company that shows itself several years after lackluster development and growth - similar to Tesla. I am staying 100% out of the Twitter deal at this point in time, but aggressive speculators may not for much longer.
NYSE:TWTR
by DoctorFaustus
TSLA next stop: MoonTesla have already tested the support more than once as we can see. With the BB indicator we can see the candle crossing the upper line and going forward to a bullish trend . We had also analyzed the Q3 earning report, and Tesla this quarter is much better than the Q2, we can see the assests is the biggest increase since last year, (57 834 millions to 74 426 millions) and the liabilities and equity had a increase but not very relevant, about 4 million. And we can see in percentage the EBITDA is recovering from last Quarter with an increase of 0,6% Since the Q2 2022 was the quarter with less vehicle deliveries, almost with the same values seen in Q3 2021. We can also see the free cash flow chart where it show us a huge increase since 2Q 2022.
NASDAQ:TSLALong
by AFCapital21
Investors drive Tesla lower after mixed Q3 earnings reportTesla shares were lower after their mixed earnings report, which is likely a combination of traders booking profits from the small pre-earnings bounce in a classic case of ‘buy the rumour sell the fact’. But who knows, perhaps investors are tiring of Elon Musk’s showmanship remarks, which today included expectations of a “record breaking Q4” and the potential for “Tesla to be worth mor than Apple and Apple and Saudi Aramco combined”. And it is hard not to be suspicious of the timing of such remarks looking at their YTD performance of -37% and him conceding that he’s overpaid for Twitter (but still “very excited”). We outlined a multi-month bearish reversal pattern on the monthly chart in our previous article, and for now we'll focus on its potential to break lower over the coming day/s. A triple top formed around $315, and Tesla has trended lower on the daily chart since. We saw an initial false break of the neckline last week with a bearish engulfing candle on high volume. But notice how volumes have again diminished over the past three days whilst prices bounced higher, which suggests it is a retracement. Tesla has fallen to 210.35 during post-market trade, which is just above the bearish engulfing low. We are therefore simply looking for a break below $204 (or $200 for a more conservative approach) to assume a bearish breakout, with $180 making a logical target for bears as it is near the March 2021 low. Given the significance of the March 2021 low then there is a strong possibility it will initially act as support. But keeping the monthly chart and reversal pattern in mind, the bias is for an eventual break below $179.83.
NASDAQ:TSLAShort
by CityIndex
Tesla (TSLA) and its multi-month bearish reversal patternTesla shares were driven lower during after-hour trade following their Q3 earnings report, despite Elon Musk later touting a “record breaking Q4”. But let’s keep is simple and look at a potential multi-month reversal pattern on the monthly chart, and Tesla’s potential to break lower this week. Sometimes you really need to stand back to admire the view, and the monthly Tesla chart is no exception. Given it has risen over 22,000% since the stock was listed (and over 3,400% since the 2019 low alone) the Y-axis has been converted to logarithmic scale. A couple of things really stand out. Volume peaked in February 2020 and has trended significantly over the past three years. Moreover, volume has been below average these past four months as buyers continue to lose steam. A head and shoulders reversal pattern is also in the making, with prices currently finding support around the neckline. If we used a standard chart the H&S pattern would measure a target around -$50 (yes, minus) but the logarithmic chart projects a move around $100 – which is roughly half of where it currently trades, and more realistic. Whether we see the break lower or not may take time to come to fruition, given it is a weekly chart, but it is certainly a pattern to keep an eye on regardless.
NASDAQ:TSLAShort
by CityIndex
TESLA - Time to recharge batteries? Looking at Tesla from an Elliot Wave perspective shows a very bullish uptrend since inception of the stock itself. Corrections & Bear Markets are there to beat you down and make you want to give up, and once in a while we are do for a big one. Looking at the chart I see a completion of Macro wave III which started in June of 2019. This was a huge move for Tesla gaining approx. 3,350%. Yes you heard that right, so when we see a large pull back, we shouldn't question it. The current correction can have many complex variations in Elliot Wave Theory, so far I see an ABC down complete, a correction up for wave (X), and now working on (Y) which should be in 3 waves as another ABC that could bring the price down to $138 as a 1:1 extension of wave A from top of wave (X). If it decides to go even deeper, suppose we have a drastic recession in the world markets including U.S., then the price is allowed to go as low as $28 or a 1.618 fibonacci retracement from wave B of (Y). In a slightly more bullish view, suppose the elections get markets to have a bear market rally and prices start going up, then we have a possibility that we are still not done with wave B of (Y) show in red colored ABC. However, I see this rally too is likely to fail if it happens; in the end gravity will win brining Tesla down somewhere in the support box (area outlined). Here, a longterm probable bottom as well as a reversal to the upside is likely. Cheers,
NASDAQ:TSLAShort
by Elliot618