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 “should” be on it’s way to the highlighted red resistance zones and, potentially, to new ATH’s. BIG SELL PATTERN in the way, higher.
Last post on TSLA: https://bartscharts.com/2024/04/29/tsla-april-29-2024/
I ALWAYS question my count … when the GREAT Connie Brown told me, emphatically, to STOP counting waves … I should have listened. Once you learn EWT and you count then, your pretty much hooked. I do appreciate EWT … ESPECIALLY THE CORRECTIONS. In fact, for me, it’s all about the corrective FORM and PROPORTION.
The diatribe about EWT was because for a while I’ve been BULLISH TSLA and it’s worked. However, based on ‘everything’ going on I was wondering if this stock will, in fact, go to new ATH’s. Right now, it should …but we have a BIG ONE getting in the way …
If your looking to create a map from OBSERVING the charts and it’s fluctuations below, you might ORIENT your perspective to DECIDE and ACT buy being a BUYER into the PATTERN ZONE and then, because it’s such a long term pattern, take some or a lot or all the profit. However, the ‘count’ that I’m sticking w/ is telling us we are in a wave 5 so, ultimately, this pattern should fail?
Guess we’ll have to wait and see .. for now, check out the wick on those candles. This is a BUY into the PATTERN.
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
