TSLA Harmonic Elliott Wave and Hurst's Cyclic Analysis
Review:
My last update on TSLA was a long time ago, published on January 6th. At that time, I had TSLA in a wave 2 ascending triangle that would consolidate until July before breaking higher. My overall expectation was definitely less bearish than the reality.
Update:
Analysis of the Structure:
TSLA wave 2 turned out to be a triple zigzag. Right now, we are in wave III of (c) of z of 2. 121.52 is a potential target for the bottom. I think the earnings report of tomorrow will cause a small gap up that makes wave IV to develop as a triangle, taking a little bit of time to break lower again, as wave V.
Analysis of the Cycles:
February 5th was the third 20W cycle trough in the current 18M cycle. Today can be the first 80D cycle trough in the current 20W cycle. This means we will have a small bounce (brief pause in the downward move) before starting the last (most bearish) phase. Early July is my expected date for the 18M cycle trough.
My last update on TSLA was a long time ago, published on January 6th. At that time, I had TSLA in a wave 2 ascending triangle that would consolidate until July before breaking higher. My overall expectation was definitely less bearish than the reality.
Update:
Analysis of the Structure:
TSLA wave 2 turned out to be a triple zigzag. Right now, we are in wave III of (c) of z of 2. 121.52 is a potential target for the bottom. I think the earnings report of tomorrow will cause a small gap up that makes wave IV to develop as a triangle, taking a little bit of time to break lower again, as wave V.
Analysis of the Cycles:
February 5th was the third 20W cycle trough in the current 18M cycle. Today can be the first 80D cycle trough in the current 20W cycle. This means we will have a small bounce (brief pause in the downward move) before starting the last (most bearish) phase. Early July is my expected date for the 18M cycle trough.
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