NOT FINANCIAL ADVICE
Foremost: Cautious Optimism.
Revisiting an old Elliot Wave analysis for $TSLA, considering its recent rally of sorts.
I hear ya Tesla Bulls but until price action breaks above $753 levels, I do not see any invalidation from my previous estimates -- that Wave C is still underway.
Until then, good luck with your trades!
Foremost: Cautious Optimism.
Revisiting an old Elliot Wave analysis for $TSLA, considering its recent rally of sorts.
I hear ya Tesla Bulls but until price action breaks above $753 levels, I do not see any invalidation from my previous estimates -- that Wave C is still underway.
Until then, good luck with your trades!
$TSLA and Tesla, is nothing short of an aberration, both in a good and bad way.
Bad? For its competitors and short sellers, of course!
Anyways, the point of revisiting this is the question of "Can we call this an extended Wave B correction?"
As it currently seems, the Technoking can't seem to do no wrong (other than pump-dumping $DOGE, but that's another story..) and $TSLA is doing all these while the markets and supply chain are struggling very badly.
What gives?
The way I see it, it's an inflated price action movement, supplicated by an insanely large Call options purchase (who knows what their TP is) and this isn't retail pressure, but retail FOMO will hit for sure.
So I think we're on an extended Wave B, much like how Tesla's $1.5B purchase created an extended, inflated Wave B for bitcoin, before May's Capitulation (Wave C).
Get ready for Wave C.