TSLA – July 20, 2023

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.

TSLA – June 07, 2023

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.

TSLA (update) – April 5, 2023

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”

TSLA (update) – March 08, 2023

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:

  • 6 ratios
  • 1.618 abcd
  • fundamental frequency target
  • abcd (blue arrows)

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.

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.

RANGE SQUARE OUT

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

Parabolic Moves

Parabolic moves are amazing … if your short and your on the wave ride it and if your riding the long wave in the emotional fueled rally then find your line and carve …just don’t get greedy.

The fact is parabolic moves never (strong statement) or shall I say ‘most of the time’ don’t end well. I’m going to show the parabolic moves that are literally rocket ships and then walk thru some of the charts from the past that show parabolic moves and their outcomes … what’s interesting is they all really do look the same …and, if you can ride out the opposite side of the tsunami it can and will come back . but do you want to eat it if your on the wrong side of the market? I can’t answer you as that is part of your PERSONAL RISK MINDSET.

I posted on MSFT a few minutes ago about it’s parabolic move and got some VERY angry and nasty messages back. I blocked those people. You see, I really do enjoy blogging and investing. I absolutely LOVE observing human nature. Why mention the past couple sentences … well, you see, I get the occasional thumbs up or comment and somebody might ask a question or two and I enjoy responding. I can see, via analytics, that a LOT of people are visiting the blog page. And, if you notice, there are periods that I go silent and then I’ll start blogging a lot because, well, patterns start to emerge.

But the fact that I got a TON of hate and mocking messages over on Stocktwits feeds more fuel to the fire that a top is approaching. Does that mean tomorrow …? Maybe? Probably not. Next week, next month? Who knows … but it is definitely getting very interesting.

In parabolic moves think of physics and Ps. Ps=sustained power. we had numbers memorized when I flew fighters for the Navy .. what altitude, airspeed, G would give you the BEST turn rate and radius to perform the jet. What sustained power could you work to max perform it …? If you went outside the box you are going to trade something …

I can blog this now because I’m a decade + out of the Navy. Back in the day, off the coast of SoCal we took the jet from 250 feet over the ocean and lit the cans (afterburner) got a ton of speed up and zooooooom up we went. Straight up bullseye (nose 90 degrees high) and we topped out above 60,000 ft. (I’ll leave it at that)

The coolest thing about topping out was the jet was STILL in full afterburner …but guess what, it just wouldn’t go any higher and then it flipped over on its back, flopped around out of control and fell like a stone. Nothing to worry about when your 10 miles above the earth but still a little erie to be honest. What happened? Well Ps went to zero. Yup .. the power to keep the jet climbing was gone. Night night, we were done …. the SAME THING HAPPENS IN THE STOCK MARKET WITH PARABOLIC MOVES.

Don’t believe me…? Hope this is more than enough examples:

Altria (MO)

note: these charts are real time as the move was happening. I try REALLY hard to not “could of, would have, should have” …..I try my best.

I have used this chart in a lot when talking to other fellow risk takers. Look how they look the same and the period between the highs is almost exactly the same from a time perspective.

I did this one for my good friend Andy @seeitmarket …it was during the mania rush that was the run up in Bitcoin. Look familiar? The key is, just like now, I was simply trying to provide a “risk based” mindset of the mania that was bitcoin ….OBTW, I’m long BITCOIN thru Coinbase and I let the entire run go because it was a parabolic emotionally fueled mania. SO I WAITED!

And, well, here is now. I kept the Bitcoin (green line) to show the bearish thump and the fact that it is coming back.

I’m not saying these companies or assets or commodities are going to zero or going out of business. I’m just objectively saying that Sir Isaac Newton has yet to be proven wrong … unless in LEO (low earth orbit) EVERYTHING comes back to earth.

Good thing this doesn’t look parabolic, at all.

so, TSLA did like that i drove in one .. but i didn’t buy

post from  Friday:

http://bartscharts.com/2013/11/08/drove-in-a-tesla-last-night-tsla-so-it-should-bounce-today-or-monday/

update …notice the blue trend line that held as support — that is the reason (polarity) that we came back and touched it and now it’s support. ¬†that could do it for the bounce but after such a strong sell move, believe we ‘ll pop up and do another measured move UP into the low 160’s or even 170 before more selling …we still have a lot of emotional/parabolic “feelings” to work off …I expect another wave down after this bounce completes.

TSLA bounce
TSLA bounce

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