Tesla Update

Sep 3

As you can see, I have left the target box on the chart for c of b of B as I don't have confirmation that part of the pattern has concluded. I think that it most likely has, but until we can get above $228.21, we can always make another low in this c of b of B. We have some minor positive divergence and MACD seems to be pointing higher at this time. Not to mention we hit inside the target box, at the ideal area I mentioned prior, and followed with a decently strong move to the upside. The strong move in itself doesn't tell us anything, it's just an observation of the action we're getting. If price had intentions of falling back down to make a new local low, I would anticipate it to hit around $220 before falling again to the area of the 1.618 @ $194. For now, my primary is for price to hit the area of $237-$251.95 for the next main target. The ALT suggests B is already over and we're headed lower towards the area of the $170's at a minimum. Should we raise to the c of B box in an ideal fashion, I plan on selling my shares to book profits.