Actually Predicting Tesla

7 Apr 2019

Tesla is notorious for being hard to trade, but this reputation is misleading. There are massive gains to be made of Tesla and you are better off not ignoring them. To start, there are multiple things to suggest that Tesla will continue going down without breaking trend. The RSI is steady and doesn't predict a change in trend on any relevant time frame, Wyckoff theory suggests that the price will break past the supports set up, and Elliot Wave suggests that the wave 5 of wave C will break through the previous supports because of Fib predictions. Once the price reaches either the 1 fib or the 1.618 fib shown on the graph, the trend will reverse and break out of the downward triangle that was formed. A short right now is the right move, but is very risky. I suggest waiting until the long position opens up an just watching the profits roll in. Good luck traders!