If we manage to hold this historical inflection point, it would also be a partial decline inside of the broadening wedge / megaphone.
For further confirmation we would want to see a move back above the local overhead supply zone and a break outside of the downsloping supply.
We are currently broken out of and diverged from the initial supply line, and that is the one that is more important here. The linear divergence is a sign of strength.
If we do break out, i would look for the measured move of the pattern to bring us as high as the 1.618 extension of the bear market, with profit targets along the way at 417, 584, 712, and the full extension at 968.
We may not hit all of these targets and its of course a little early here still, but there are many fundamental reasons for this type of move to play out. Outside of all of Teslas typical endeavors, i think there is so much growth that isnt priced in regarding their AI, Chips/Dojo and training revenue, the potential with FSD/Optimus, and much more, but i like to stick to the charts
For further confirmation we would want to see a move back above the local overhead supply zone and a break outside of the downsloping supply.
We are currently broken out of and diverged from the initial supply line, and that is the one that is more important here. The linear divergence is a sign of strength.
If we do break out, i would look for the measured move of the pattern to bring us as high as the 1.618 extension of the bear market, with profit targets along the way at 417, 584, 712, and the full extension at 968.
We may not hit all of these targets and its of course a little early here still, but there are many fundamental reasons for this type of move to play out. Outside of all of Teslas typical endeavors, i think there is so much growth that isnt priced in regarding their AI, Chips/Dojo and training revenue, the potential with FSD/Optimus, and much more, but i like to stick to the charts