Tesla peaked back in January 2021 and has since been in an expanded flat correction as wave B went above the peak of wave 3 at 300 and closed at 414.50. We see a possible S/H/S top building but need a break below the neckline support at 206 to confirm the top formation and a decline towards at least 136 and possibly even closer to 118 before a corrective low is in place for wave 4. As for the long-term outlook, the expected decline can take many months to complete.
However, for now, we are looking for a possible break below 206 that will open up for the expected decline towards 136 and possibly lower.
Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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