$TSLA TOP 20
Added 2023-08-22 12:07:29 +0000 UTC$TSLA bulls have come out swinging to protect that $217 line, which was the previous high in Feb and our blue line.
Price went up by 7% yesterday and already up 4% in the PM now....this may also be helping $NIO turn around too.
Number of catalysts have helped:
1. Price cuts again
2. Chinas renewed policy of helping EV makers to sell more cars.
3. Baird set an outperform rating on the stock and set a PT at $300
4. Positive day for the market and Mega Caps yesterday.
People are seeing value in $TSLA again after an aggressive drop from $300 to $212
The issue now is that because the price has dropped below the blue line, if this was a Wave 4 pull back, it is not keeping within the rules of EW Theory, as Wave 4 has now broken into the Wave 2 range, below $217....so if we keep to EW Theory, this can not be an impulse wave.
So let's see how $TSLA behaves now. Take what you need from my chart and commentary.
Comments
What level to upside would cause you to change your count? Above wave 2 or is there another level I should be watching to the upside?
Adam L
2023-08-23 16:41:04 +0000 UTCI don't think, the 200 Day MA or the trend line should act as strong support lines.
Gareth Neary
2023-08-22 12:54:10 +0000 UTCWill possibly of this impulse wave decline of wave 5 be deeper to below previous low?
Huat
2023-08-22 12:52:54 +0000 UTCYes, that is my count right now
Gareth Neary
2023-08-22 12:34:23 +0000 UTCIf it is not an impulse wave does it means it will follow the red numbering? (3)-> (4)-> (5)?
Huat
2023-08-22 12:32:00 +0000 UTC![[ ʜʏᴇɴᴀ ʙᴇᴡɪʟᴅᴇʀᴇᴅ ]](https://samsuka.com/istorage/110963.jpg)
