keep an eye on TSLA longs … the longer term projection target is still out there but after hitting the 1.27 we’ve been selling off nicely …
Thus far this count has worked … since we made a new high and smacked into the 1.27 extension and a clean 5 wave count can be seen, perhaps it’s time to take some profit on TSLA?
TSLA – on its way to new highs?
Last post on TSLA: https://bartscharts.com/2023/07/20/tsla-july-20-2023/
A PATTERN is just a pattern. LOT of bearish talk about TSLA but here was the PATTERN.
Updated the count … is TSLA on it’s way to new highs? Who knows …
Last post on TSLA: https://bartscharts.com/2023/06/07/tsla-june-07-2023/
Staying w/ the preferred count shown in green. That being said, this could be, as shown on the alternate count the beginning of an a-b-c = Y move down … so, while this gives up a lot of the move, we’ll just use the EWT correction RULE that wave 4 cannot go below the end of wave 1. That level is around 220. As long as this correction (labeling it that right now) says above that 220ish level – then it is still game on and TSLA to new highs to finish a long term 5 wave sequence.
Hope this helps.
January 2023 low:
April 27, 2023 low:
As we have discussed on this blog – I don’t track nor do I know ANYTHING about the fundamentals driving the EV market. I probably should as I have my hands in a “data norming” technology that is using Unreal Engine 5 to create the “EV Metaverse” but, other than I really don’t.
That being said – the thesis – TSLA IS GOING TO NEW HIGHS remains intact.
What will stop it .. MAJOR RESISTANCE 257-268.
Other than that .. IF (the big IF) TSLA respects that level and pulls back THEN we need to think of adding and getting long.
Last post on TSLA: https://bartscharts.com/2023/04/05/tsla-update-april-5-2023/
If correct, TSLA is off to new highs. Stops to remain below the lower green gap area ~145.
Last post on TSLA: https://bartscharts.com/2023/03/08/tsla-update-march-08-2023/
Well, the BUY PATTERN shown in the last update hit, went thru it a bit, and then started back up. If you look on this two hour chart, you can see that 5 waves up are complete from the low at (2) so, IF that (2) is correct, then expect 173-174 to hold and TSLA continues on in a 5th wave. Yes, know this sounds crazy but calling it like I see it, for now.
If we lose that lower 173-174 level then I’ll seek the “daily gap zone” as the next level to get LONG TSLA. Lot’s of math in that area …
So, either way, believe there isn’t any evidence, yet, that TSLA will continue it’s march higher either from a little lower or at the “green daily gap zone”
Last update on TSLA: https://bartscharts.com/2023/02/25/tsla-update-february-25-2023/
The move off the low down around 100 has been EXTREMELY powerful and that “USUALLY” (note quotes and all CAPS) lends to another LONG entry in/around the .382.
We have a LOT of math coming in from 170-175:
so, it appears we need to give the 170-175 BUY a shot. don’t get married to it … perhaps go in smaller than the 100 level but this is a “first chance” and from a “holding” mindset IF (always the BIG IF) my count is correct we are moving to new highs in TSLA … TBD and only TIME will tell.
Last post on TSLA: https://bartscharts.com/2023/01/20/tsla-january-20-2023/
Potential major bottom for TSLA.
There is a high probability that we have bottomed in the 4th wave and the next wave higher for TSLA is just starting. We can go all the way down to, basically, 20/share and still have a valid count but two things came together nicely PRICE AND TIME to make me think this is a “first” opportunity to get long TSLA.
Folks, if we are long down here in the low 100’s our target will ultimately be above 420. So, be judicious w/ your position size and don’t get greedy. There will be a LOT of gyrations …
If we go below the low around 100 then stop out and we’ll look to try again but for now – believe a bottom is in place for TSLA and a nice risk:reward investment is presenting itself.
Above you will see the concept of a “square out” w/ TSLA. You can “square out” a high, a low or a range.
From our vantage point PRICE and TIME are just numbers and are equal and interchangeable. Inflections up or down occur when PRICE = TIME or PRICE and TIME are equal harmoniously.
From the IPO price we went a total of 414 points higher. PRICE.
From the ATH DATE of 11/04/2021 we simply add 414 calendar days and that date is 12/23/2022.
Additionally, this entire RANGE square out happened right around the date the BUY PATTERN completed.
Hence, believe we have an important low in place w/ TSLA.
Good weekend to everyone.
Bart
1,2,3,4,5 …
