TESLA IN A CORRECTION - ELLIOTT WAVE ANALYSIS

Hi Elliotticians, Tesla made a sharp drop from the 1153 high, which is an indication that impulsive wave 3 is completed (it found a high at the Fib. projection target of 2.0), and that a correction as wave 4 is underway. Support for the correction can be at the former swing low at 985.2 level, also area where Fib. ratios of 0.382 and 50.0 are located and can react as support.

An impulsive advance higher would be a suggestion that a correction in 4 is completed, and wave 5 underway, towards new highs.

Trade well.