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$Tesla Motors(TSLA)$ Tesla may reverse from here

40 minutes ago

Based on the analysis, it appears that Tesla's stock price has gone through a specific pattern known as the Elliott Wave Theory (i,ii,iii, and iv looking to be completed. This theory suggests that markets move in predictable patterns consisting of five waves in the direction of the main trend and three waves against the trend. In this case, you're indicating that Tesla's stock has completed its 4th wave, which retraced approximately 38% of the prior price move.

If this analysis is accurate and Tesla's stock price is following this Elliott Wave pattern, it suggests that the stock might be preparing to enter its 5th wave. The 5th wave is typically an upward-moving wave that aligns with the overall trend of the stock. The upside may be 300-317-335 $.

However, it's important to recognize that Elliott Wave Theory, as well as the use of Fibonacci retracements, relies on interpreting price charts and patterns. While these tools can provide insights into potential price movements, they are not foolproof predictions. Market behavior is influenced by a multitude of factors such as news, events, economic data, and overall market sentiment. These factors can lead to unexpected price movements that may deviate from the predicted patterns.

Disclaimer: As a reminder, trading and investing come with inherent risks. Decisions should be made with careful consideration of various factors, including both technical analysis (like Elliott Wave Theory and Fibonacci retracements) and fundamental analysis (such as a company's financial health, competitive landscape, and industry trends). Consulting with financial professionals, conducting thorough research, and implementing risk management strategies are advisable before making any investment decisions.

30 minutes ago

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Source: tradingview