$TSLA TOP 20
Added 2023-01-28 20:51:12 +0000 UTCI think I have laboured on a lot about $TSLA this week. A lot of people were waiting for $83 to hit, myself including and it went parabolic, so I apologise that many may have missed this run, that being said, the bounce and a parabolic move is not what I want to see when we expect the bottom to be in.....as I have described under the $NKE chart today and in the Telegram group, this looks corrective to me now.
I think a lot of people jumped into EV this week, especially retail investors and ballooned the EV market, $LCID being the most extreme one, which got hyped from a false report and then shot up, only to fall down heavily, leaving chasers holding bags at the top.
I can not emphasise enough how much I discourage this behaviour, this is not what sensible long term investors should be doing, this is a fast track route to taking on too much risk and left out of pocket, if you feel the urge to chase, or you feel like you are missing out if you don't get in asap, take a moment to reassess, retail investors are constantly getting caught doing this, if there is one thing I can teach here, control the urge.
Yes it shot up from $101 to $180, but up until $136 it was a hallmark Wave 4 bounce...so in essence, you missed from $136 to $180 and this was a parabolic move, I have shown with plenty of examples here that parabolic moves are met with worse declines.
I can only chart and give my thoughts, you of course are free to buy and sell whatever way you see fit. My group is a chart group and I hope to help people understand charting a long the way, I am not a financial advisor, I can not tell anyone when to buy or sell, this responsibility is yours and yours only.
I am not concerned that I missed $TSLA because I believe the next opportunity is available around every corner and I have uploaded many charts lately that are bullish with the same potential as $TSLA.
I believe we are in a corrective wave now and Wave C will still provide our Price Target....although a lot further away now.
Second chart is interesting to observe, $TSLA has gone parabolic like this before and it is interesting to see what happened next.
Comments
Great work Cap!
Yuri van Huisstede
2023-01-29 13:09:01 +0000 UTCThat’s it, if it continues it’s move now with no pull backs, then the 200Day MA will likely be a resistance level, looking like that will happen between $210-$220. If this happens, I would be that this is a corrective wave and the lows are not in yet and will come in and some stage towards the end of this year
Gareth Neary
2023-01-28 22:31:18 +0000 UTCI see, that explains it, thank you. And you don't believe we are in the bullcase scenario yet but in corrective wave without pull back and could move up to $220 first, right?
Bjoern Szymkowiak
2023-01-28 22:28:14 +0000 UTCHi Bjoern, I was going to upload that chart from yesterday again but I thought, uploading two charts today was enough but yes, yesterday charts is the best case scenario for the bulls, that it pulls back now properly and shows strength by completing Wave 2 properly, as shown on yesterday’s chart. If this does not happen, the chart today is showing how an aggressive Wave A moves.
Gareth Neary
2023-01-28 22:09:34 +0000 UTCCapt., tbh, I am confused. to me it looks like TSLA chart is changing recently on almost a daily basis. With yesterday evening chart update there was a pull back within next few weeks to .618 fib on the historic support line at $132.20 to complete waive 2. Looking at this update now, cannot see that anymore. Is it gone? Are we instead now in wave A going straight to $220? I am absolutely not doubting your knowledge, just want to understand.
Bjoern Szymkowiak
2023-01-28 22:06:33 +0000 UTC
