Tesla Inc. ($TSLA) Blue Box Area Wins Again. What’s Next?
Tesla Inc. ($TSLA) Blue Box Area Wins Again. What’s Next?
July 17, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1 Hour Elliott Wave chart of Tesla Inc. ($TSLA) The rally from 4.27.2023 low unfolded as a 5 wave impulse with an incomplete bullish sequence from 6.26.2023 low. So, we advised members to buy the pullback in 7 swings (WXY) at the blue box area ($269.45 – 262.39). We will explain the structure & forecast below:
$TSLA 1H Elliott Wave Chart 7.10.2023:
$TSLA
Here is the 1H Elliott Wave count from 7.10.2023. The rally from 6.26.2023 low at blue (4) unfolded in a 5 wave impulse which signaled a bullish trend. We expected the pullback to find buyers in 7 swings at $269.45 – 262.39 where we entered as buyers.
$TSLA 1H Elliott Wave Chart 7.16.2023:
$TSLA
Here is the latest 1H weekend update showing the move taking place as expected. The stock has reacted higher from the blue box area allowing longs to get a risk free position and breaking above 7.03.2023 peak creating another bullish sequence. From here, we expect more upside towards $311 – 340 area in the near term and eventually a new all time high.
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Source:https://elliottwave-forecast.com/stock-market/tesla-inc-tsla-another-blue-box-bullish-sequence/
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I believe that TSLA is likely to continue to trade sideways in the near term, as the global economy faces a number of challenges.
I think TSLA is a good investment. The company is well-managed and has a strong financial position.
The company's recent earnings report was strong, with revenue and earnings per share beating analyst expectations.
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Great ariticle, would you like to share it?
Great ariticle, would you like to share it?
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