Elliott Forecast - Elliott Wave Analysis on Tesla (TSLA) Suggests A Double Correction | ResearchPool

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Elliott Forecast

Eric Morera

Elliott Wave Analysis on Tesla (TSLA) Suggests A Double Correction

Short Term Elliott Wave in Tesla (TSLA) suggests the rally from 4.22.2024 low is in progress as an impulse. Up from 4.22.2024 low, wave (1) ended at 198.90 as the 45 minutes chart below shows. Wave (2) pullback is currently in progress. The internal subdivision of wave (2) takes the form of a . Down from wave (2), wave (i) ended at 188.35 and wave (ii) ended at 194.54. The stock extended lower in wave (iii) towards 178.03 and wave (iv) ended at 185.26. Final leg wave (v) ended at 176.02 which completed wave ((a)). Rally in wave ((b)) ended at 187.56 as a double three.

Wave ((c)) lower is in progress as 5 waves and ended at 167.50. This completed wave W in higher degree. Wave X rally takes the form of a double three Elliott Wave structure. Up from wave W, wave ((w)) ended at 181.8 and pullback in wave ((x)) ended at 171.43. Wave ((y)) higher ended at 187.42 which completed wave X. The stock has turned lower in wave Y. Down from wave X, wave (i) ended at 178.1 and wave (ii) ended at 182.8. Near term, as far as pivot at 198.9 high stays intact, expect the stock to extend lower.

Tesla (TSLA) 45 Minutes Elliott Wave Chart

TSLA Elliott Wave Video

Source:-forecast.com/news/elliott-wave-analysis-tesla-tsla-suggests-double-correction/

24/05/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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