Short term in Tesla (TSLA) suggests cycle from 11.1.2022 high is in progress as a . Down from 11.1.2022 high, wave 1 ended at 165.38 and rally in wave 2 ended at 198.92. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Up from wave 1, wave ((w)) ended at 188.50 and pullback in wave ((x)) ended at 178. Rally in wave ((y)) ended at 198.92 which completed wave 2 in higher degree. Wave 3 lower is in progress but the stock still needs to break below wave 1 at 165.38 to rule out a double correction.
Down from 12.1.2022 high, wave (i) ended at 191.80 and rally in wave (ii) ended at 196.90. Stock resumed lower again in wave (iii). Down from wave (ii), wave i ended at 189.55 and wave ii ended at 196.25. Wave iii ended at 180.55, wave iv ended at 183.82, and final leg wave v ended at 175.33 which also completed wave (iii). Bounce in wave (iv) ended at 180.64 and final leg lower wave (v) ended at 169.06 which completed wave ((i)). Wave ((ii)) rally is in progress to correct cycle from 12.1.2022 high before the decline resumes. Up from wave ((i)), wave (a) ended at 175.20 and pullback in wave (b) ended at 169.35. Expect the stock to rally in wave (c) higher before ending wave ((ii)). As far as pivot at 198.92 high stays intact, rally should fail in 3, 7, or 11 swing for further downside.
TSLA 30 Minutes Elliott Wave Chart
Tesla (TSLA) Elliott Wave Video
Source:-forecast.com/news/elliott-wave-view-tesla-tsla-downside-looks-incomplete/
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