This article can be broken down into two parts:
Part 1. Month of Nov-Dec (2020):
-Using the past historical data over 2020 suggests a re-occurence of falling wedge pattern (descending) each time leading to newer ATH's. The pattern signifies a consolidation of relative volatility in the market's view of the stock, along with it a strengthening judgement as time is accrued. For technology stocks, with high PE ratio's, this is nothing new, especially if they are in the infancy days of the business lifecycle.
-Using data of past wedges, signifies an increase of 0.7 multiplier once a wedge has completed. My interpretation of data suggests that the current wedge will complete by November - indicated by the end of the 1st wedge back in Jun( 2020).
Note: the dashed white line represents the end of a wedge and acts as support.
-My new estimate for Tesla under this assumption is $750 ATH (at it's peak) in the calendar year of 2020. This is likely to occur from beginning of election throughout December.
Part 2. Month of Dec-Mar (2021):
'..Nothing lasts forever..'
-After new price point, a consolidation will form, and using a conservative estimate of the averages between support lines means Tesla will complete the 4th wedge on $625 U.S.
Note:(this can also be seen via the latest wedge (360+500)/2 = $430 (PINK AND ORANGE LINES).
My bold prediction using purely same analysis leads me to believe by 2025, TSLA will be worth $5000 U.S.
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“Perceive that which cannot be seen with the eye.”
― Miyamoto Musashi, A Book of Five Rings: The Classic Guide to Strategy
Part 1. Month of Nov-Dec (2020):
-Using the past historical data over 2020 suggests a re-occurence of falling wedge pattern (descending) each time leading to newer ATH's. The pattern signifies a consolidation of relative volatility in the market's view of the stock, along with it a strengthening judgement as time is accrued. For technology stocks, with high PE ratio's, this is nothing new, especially if they are in the infancy days of the business lifecycle.
-Using data of past wedges, signifies an increase of 0.7 multiplier once a wedge has completed. My interpretation of data suggests that the current wedge will complete by November - indicated by the end of the 1st wedge back in Jun( 2020).
Note: the dashed white line represents the end of a wedge and acts as support.
-My new estimate for Tesla under this assumption is $750 ATH (at it's peak) in the calendar year of 2020. This is likely to occur from beginning of election throughout December.
Part 2. Month of Dec-Mar (2021):
'..Nothing lasts forever..'
-After new price point, a consolidation will form, and using a conservative estimate of the averages between support lines means Tesla will complete the 4th wedge on $625 U.S.
Note:(this can also be seen via the latest wedge (360+500)/2 = $430 (PINK AND ORANGE LINES).
My bold prediction using purely same analysis leads me to believe by 2025, TSLA will be worth $5000 U.S.
-----------------------------------------------------------------------------------------
“Perceive that which cannot be seen with the eye.”
― Miyamoto Musashi, A Book of Five Rings: The Classic Guide to Strategy