TSLA to correct, before continuation

21 Nis 2020

We can all agree that TSLA has been extremely volatile within the last six months. In the interim, TSLA may correct to Wave D ($609), which is the 23% retrace from the Wave C uptrend. In theory, TSLA could retrace a bit further to $526.76 based on the Fib extension (38*%) from the ATH of $968.99 on 4 Feb. With a average price target of $520 (1), this seems likely, however, investors may opt to push price back to test resistance at $968 (Wave E). My current opinion is that TSLA will soon fall below $600.

Source:

(1) nasdaq.com/market-activity/stocks/tsla/analyst-research