Quick sketch up of some possible paths for TESLA (
TSLA
) long-term. According to this, we are in the middle of the 2nd leg of a 3-wave long-term weekly correction that started in Nov 2021. Wave A completed at the end of 2022, kicking off Wave B for 2023. Expecting some short-term turbulence on the way up back to the ATH at (B); could see a small dip back to the trend at around the 38.2%-50% fib lines before heading back up (yellow solid arrows). We could also see a rejection at the upper trend (in white) and head down to (C) now, shown by the dashed arrow. If we get to (B) and this long-term correction is still in play, we should expect a move down back for Wave C to complete the long-term correction. There is also a chance we can fly from the ATH once getting to (B), invalidating this pattern, shown by the second dashed arrow. These are all the possible paths I'm seeing now. I will monitor how she progresses and purchase more shares accordingly.
TSLA
) long-term. According to this, we are in the middle of the 2nd leg of a 3-wave long-term weekly correction that started in Nov 2021. Wave A completed at the end of 2022, kicking off Wave B for 2023. Expecting some short-term turbulence on the way up back to the ATH at (B); could see a small dip back to the trend at around the 38.2%-50% fib lines before heading back up (yellow solid arrows). We could also see a rejection at the upper trend (in white) and head down to (C) now, shown by the dashed arrow. If we get to (B) and this long-term correction is still in play, we should expect a move down back for Wave C to complete the long-term correction. There is also a chance we can fly from the ATH once getting to (B), invalidating this pattern, shown by the second dashed arrow. These are all the possible paths I'm seeing now. I will monitor how she progresses and purchase more shares accordingly.