Tesla In Line For An Additional Significant Drop (Technical Analysis)
Now we will move to the monthly chart and delve into the bearish wave structure that has yet to complete.Tesla current monthly chart We can see the wave one $414 to $233 with the wave two making its way from that price region to circa $390.The wave three then becomes confirmed with the drop from circa $390 to below the $233 support.We can see Tesla currently surging it's way south towards the next technical stop of $122. This is the Fibonacci 161 from the three-wave structure and in bearish case
I started investing in 2020 after the Covid crash and have learnt alot with all the ups and downs and being humbled by this bear market. My ultimate aim is to accumulate up to S$1 million in investment returns, hopefully I'll be able to achieve it within 8-10 years time. As the famous Warren Buffett said: "Be fearful when others are greedy and be greedy when others are fearful." It is definitely easier said than done, but hope that I'll stay the course in this investment journey. May 2023 be better for everyone! [Cool]