Looking at the price action since Dec 20th, it appears corrective to me. It seems we have an a-b formed and will most likely drop tomorrow to potentially finish out a c wave paving the way for another move higher into my box...finally. This isn't confirmation, just some price action that seems easy to classify. We could have already finished wave (i) and be headed down for (ii), but at this time I feel we still have another high yet to make.
Also, look at MACD and how lackluster it was today especially compared to Rivian. It isn't even close to making another high. In fact, we are still on neg divergence at this time which indicates we need a local low to create some positive divergence and help push us into my box. There is no way to tell how long this little retrace will take as there is no tool I'm aware of that predicts time, but I think it will most likely finish in the next day or two before heading higher towards my box. Not to mention if this is the correct count, we have a c wave coming up. c wave's are powerful and can finish quick.
What I want to see next is a 5-wave move down to the small box followed by an impulsive move higher. If we fall below $228.20 then I will make my turquoise ALT my primary. Until then I stand pat with my analysis. Time will tell but if price behaves the way I have described here, then I will finally start to get back into Tesla. They have some good things coming up such as advancements in their robotics dept and revamping their popular model Y in Shanghai. Don't forget to take into consideration the entire globes push for EV's, with Tesla by far being the biggest and best positioned to absorb the business. Somethings to keep in mind though, is how eccentric Elon Musk is and his battle with certain labor groups pushing for unions. This could negatively impact the stock very easily. Food for thought.
Also, look at MACD and how lackluster it was today especially compared to Rivian. It isn't even close to making another high. In fact, we are still on neg divergence at this time which indicates we need a local low to create some positive divergence and help push us into my box. There is no way to tell how long this little retrace will take as there is no tool I'm aware of that predicts time, but I think it will most likely finish in the next day or two before heading higher towards my box. Not to mention if this is the correct count, we have a c wave coming up. c wave's are powerful and can finish quick.
What I want to see next is a 5-wave move down to the small box followed by an impulsive move higher. If we fall below $228.20 then I will make my turquoise ALT my primary. Until then I stand pat with my analysis. Time will tell but if price behaves the way I have described here, then I will finally start to get back into Tesla. They have some good things coming up such as advancements in their robotics dept and revamping their popular model Y in Shanghai. Don't forget to take into consideration the entire globes push for EV's, with Tesla by far being the biggest and best positioned to absorb the business. Somethings to keep in mind though, is how eccentric Elon Musk is and his battle with certain labor groups pushing for unions. This could negatively impact the stock very easily. Food for thought.
Komentar:
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Komentar:
Super choppy price action to start a run on the micros. Nonetheless price dictates everything. MACD is printing a strong rise and price is showing strength too. Will we hit my target box today?
Komentar:
Finally tagged the 1.618 and then got rejected. My gut tells me we should get another push higher towards the 1.786 fib to drive further into my box. This should go to show everyone who has doubted my primary...patience is key!
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
