TESLA (TSLA) stock : Elliott Wave forecasting the rally

In this technical article we’re going to take a quick look at the weekly Elliott Wave charts of Tesla Stock (TSLA) , published in members area of the website. As many of our members are aware, the stock has given us good buying opportunities recently.  The stock is showing impulsive bullish sequences in the cycle from the 138.63 low and we were calling for a further rally. In the following sections, we’ll delve into the Elliott Wave pattern and explain the forecast.

TESLA H1 Update 11.04.2024

The stock has given us correction against the 212.12 low. The pullback has already reached the extreme zone at 245.17-233.93 and we believe pull back could be done. At this stage, we advise against selling the stock and favor the long side from the marked extreme zone. As the main trend is bullish, we believe TSLA could either see a rally toward new highs.

TESLA H1 Update 11.12.2024

The stock responded exactly as expected. It found buyers at the Blue Box Area, making rally toward new highs. TESLA stock should ideally keep finding buyers in 3,7,11 swings against the 238.7 pivot.

Keep in mind market is dynamic and presented view could have changed in the mean time.