According to the Elliott Wave theory,
TSLA
has been following a corrective wave pattern (ABC) since its inception, reaching its peak during the 2021 bull run. Currently,
TSLA
has completed both wave 1 and wave 2, entering the critical and highly impulsive wave 3 towards the downside of the Elliott Wave sequence. The fundamental outlook for
TSLA
appears weakened due to intense competition in the market. In the long term,
TSLA
is displaying a heavy bearish trend.
While specific targets for the remaining waves are uncertain at this time, one thing is clear –
TSLA
is not expected to surpass wave 2, which is positioned at $299.
TSLA
has been following a corrective wave pattern (ABC) since its inception, reaching its peak during the 2021 bull run. Currently,
TSLA
has completed both wave 1 and wave 2, entering the critical and highly impulsive wave 3 towards the downside of the Elliott Wave sequence. The fundamental outlook for
TSLA
appears weakened due to intense competition in the market. In the long term,
TSLA
is displaying a heavy bearish trend. While specific targets for the remaining waves are uncertain at this time, one thing is clear –
TSLA
is not expected to surpass wave 2, which is positioned at $299.