Tesla Elliott Wave Analysis

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 Tesla Daily chart


As shown in the above chart of Tesla, prices have given a positive break in falling trend line. It has re-tested the trend line which is now acting as a support. There are chances it can again test it and can give whipsaw over the time, but the trend remains firmly positive for this stock.

From Waves perspective, prices have completed the corrective pattern (a-b-c) in flat and is now opening another wave which will decide if it is impulse or corrective. I think it is a impulse wave and can move close enough or even surpass its previous high over medium term.

The summation is Tesla stock is positively poised and can move higher near till $900 over even cross it over medium term.


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