I used the following data to support my outlook:
1. The month of June is historically a month where major and minor highs/lows appear for Tesla.
2. Tesla’s periodicity shows periods of 100 – 120 days of price swings. The boxes on the chart represent them.
3. Gann’s dynamic Square of 9 angles are represented by the horizontal red, blue, green, and yellow lines.
4. The black diagonal line is the dominant interior angle on the daily chart.
Near-term Outlook
TSLA likely to keep up the bullish pressure higher, following the slope of the dominant interior angle until late February 2024. The 78.6% Fibonacci extension and the 270-degree Gann Square of 9 (SQ9) sit in the $270-$275 value area, a likely stopping point if Tesla continues to follow the momentum/speed of the interior angle.
Mid-term Outlook
If TSLA continues to show powerful expansion moves, then the price level to watch is a shared resistance cluster made up of the 180-degree Gann SQ9 and the 161.8% Fibonacci extension both at $520.66.
June 2024 and November 2024 are the months most likely to have the $520 level being hit.
1. The month of June is historically a month where major and minor highs/lows appear for Tesla.
2. Tesla’s periodicity shows periods of 100 – 120 days of price swings. The boxes on the chart represent them.
3. Gann’s dynamic Square of 9 angles are represented by the horizontal red, blue, green, and yellow lines.
4. The black diagonal line is the dominant interior angle on the daily chart.
Near-term Outlook
TSLA likely to keep up the bullish pressure higher, following the slope of the dominant interior angle until late February 2024. The 78.6% Fibonacci extension and the 270-degree Gann Square of 9 (SQ9) sit in the $270-$275 value area, a likely stopping point if Tesla continues to follow the momentum/speed of the interior angle.
Mid-term Outlook
If TSLA continues to show powerful expansion moves, then the price level to watch is a shared resistance cluster made up of the 180-degree Gann SQ9 and the 161.8% Fibonacci extension both at $520.66.
June 2024 and November 2024 are the months most likely to have the $520 level being hit.