Tesla - falling channel or bull flag ?

٢ فبراير

A simple chart with fib retracement of the move since the end of October to ATH.

This could be a 5-wave move up with correction to the 0.618 retracement and turn into a bull flag pretty soon. Or it can keep correcting within that channel.

Tesla is a stock that is not trading on fundamentals, but on investor sentiment and Elon Musk mixed with lots of fibonacci pinball by the trading algorithms.

It all depends on the NDX. If the index goes up, so does TSLA. If it doesn't, next target is 320$.

٦ فبراير

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support broken at the 0.618 retracement. Going lower and another confirmation of the channel.

١٠ فبراير

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0.5 retracement reached, daily RSI quite low, could see a bounce here. More downside probably ahead, EM doesn't seem to care, he has a new job now. Maybe he is even selling...

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didn't think it would reach the 32X area this quickly, but here we are:

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bullseye (or bears)

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this is just perfect algorithmic trading, rejection at the midline of the channel:

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next moves: 330 > 280$

٢٨ فبراير

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reached 280 sooner than expected

٦ مارس

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might as well close the gap at 255

١١ مارس

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all gaps are closed, 100% retrace, expecting short covering now

٢٥ مارس

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might be insane, but maybe not:

٣٠ مارس

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after rejection at the 30D and 200D moving averages (like the entire market) the next target with a high probability is the 180$ region:

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