Heya folks! Welcome to my technical analysis on Tesla.
Disclaimer: this is just speculation and the pattern might not play out at all.
Trade idea:
Tesla is currently within an ascending triangle and it looks like it's forming an ABCDE correction pattern. We are currently at the C wave of the pattern.
The MACD indicator is about to cross which could signal that we might reach the D wave of the pattern within the next two months.
The 50 DMA is above the 200 DMA so the stock is still bullish.
This seems really close to the correction we had from January to June in 2021. This ABCDE correction might indicate a new bull run for Tesla.
Disclaimer: this is just speculation and the pattern might not play out at all.
Trade idea:
Tesla is currently within an ascending triangle and it looks like it's forming an ABCDE correction pattern. We are currently at the C wave of the pattern.
The MACD indicator is about to cross which could signal that we might reach the D wave of the pattern within the next two months.
The 50 DMA is above the 200 DMA so the stock is still bullish.
This seems really close to the correction we had from January to June in 2021. This ABCDE correction might indicate a new bull run for Tesla.