TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: let's review the key points of the previous update (September 8th):
Update:
First of all, I want to note that there are MAJOR warning signs on other charts, except TSLA. For now, it is the only name in my watchlist that is following the bullish expectations. For that reason, I am not making any change to my overall expectations on TSLA, but be careful being bullish.
Analysis of the Structure:
This week, we started wave (III) as expected and completed its first leg, wave a.Now, we are in wave b of (III) developing as a flat correction.
Considering fib retracements of wave a of (III), I have 262.53 for the bottom. This can be a golden opportunity to participate in the rest of this bullish move.
Analysis of the Cycles:
Today, we completed the first 10D cycle in the second 20D cycle of the current 40D cycle.
What this means is that we are expecting the 40D cycle trough to come next (22nd or 25th of September).
We have not generated any FLD crosses to the downside yet to come up with targets for the 40D cycle trough, so we rely on the target coming from the analysis of structure (262.53).
I provided dates for 80D cycle peak and trough in the previous update and there is no change to those.
An important action to watch going into the next week is our interaction with the 20W cycle FLD, which is currently a bit above us. On Monday, we will have a cross above it (don't forget that we add holidays on our cyclic analysis charts) and a retest of it on September 22nd or 25th shows the price zone of 262.5, nice confluence with our fib target!
- Wave e of (II) under development and will complete on Monday morning (around 245).
- What follows is wave (III), target for wave (III) peak is 321.
- We are in the second 20D cycle of the first 40D cycle of the first 80D cycle of the first 20W cycle of the second 40W cycle of the current 18M cycle.
- The first 5D cycle in this current 20D cycle is due on Monday.
Update:
First of all, I want to note that there are MAJOR warning signs on other charts, except TSLA. For now, it is the only name in my watchlist that is following the bullish expectations. For that reason, I am not making any change to my overall expectations on TSLA, but be careful being bullish.
Analysis of the Structure:
This week, we started wave (III) as expected and completed its first leg, wave a.Now, we are in wave b of (III) developing as a flat correction.
Considering fib retracements of wave a of (III), I have 262.53 for the bottom. This can be a golden opportunity to participate in the rest of this bullish move.
Analysis of the Cycles:
Today, we completed the first 10D cycle in the second 20D cycle of the current 40D cycle.
What this means is that we are expecting the 40D cycle trough to come next (22nd or 25th of September).
We have not generated any FLD crosses to the downside yet to come up with targets for the 40D cycle trough, so we rely on the target coming from the analysis of structure (262.53).
I provided dates for 80D cycle peak and trough in the previous update and there is no change to those.
An important action to watch going into the next week is our interaction with the 20W cycle FLD, which is currently a bit above us. On Monday, we will have a cross above it (don't forget that we add holidays on our cyclic analysis charts) and a retest of it on September 22nd or 25th shows the price zone of 262.5, nice confluence with our fib target!
