$TSLA TOP 20
Added 2024-07-12 16:54:54 +0000 UTCSo $TSLA hit the 1.618 Fib and rejected, on the same day that news broke that the Robotaxi project will be delayed until October, these Fib levels have a habit of aligning with announcements, we can speculate what leads what another time.
Price then pulled back almost exactly the the yellow trend breakout line at $233, which is also the 0.38 Fib, which is the standard level we look out for for a Wave 4 pull back.
My main issue with this pull back is that it has happened so quickly, that the entire pull back for Wave 4 appeared to happen in 1 day and then at the opening today, so over a block of 24hrs, this would be very unusual.
That being said, if the price continues to stay above the yellow trend line, then the pull back is complete.
I would be surprised if we did not see another retest of the yellow trend line, since it was such an important breakout level which had acted as a resistance line for a number of years.
If you bought on the test of the trend line today then well done, that was quick, I see no issue with that, as long as you adopted a DCA strategy with intentions to add again too.
