TSLA Weekly Harmonic Elliott Wave Analysis
Overview: let's review the key points of the update of previous weekend:
Update: TSLA bottomed at 151.71 this week and formed a clear abc move to the upside. Although we fell a bit short of my target (149.48) and it happened earlier than my expectation (middle of May), I am favoring bottom being in on TSLA based on the structure.
On the hourly chart, I see wave 1 of a of (I) of a of 3 very close to its completion. What follows is a pullback as wave 2, where its structure will help us to decide if the bottom is actually in or we are going for one more lower low at 149.48 for mid May.
- What I see at the moment is that wave III of (c) of y of 2 has been completed and we are inside wave IV of (c).
- I have the same price and time target for wave 2 as I had before: completion by the middle of May at 149.48.
Update: TSLA bottomed at 151.71 this week and formed a clear abc move to the upside. Although we fell a bit short of my target (149.48) and it happened earlier than my expectation (middle of May), I am favoring bottom being in on TSLA based on the structure.
On the hourly chart, I see wave 1 of a of (I) of a of 3 very close to its completion. What follows is a pullback as wave 2, where its structure will help us to decide if the bottom is actually in or we are going for one more lower low at 149.48 for mid May.
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