Tesla Motors - TSLA - Weekly - Elliott Wave (Guess)
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Long term chart after discussing the count with other users here at TradingView.
Don't bet your retirement account on this going to 1100, but that gives it a market cap of just over $100 billion, which may seem far-fetched but we never know.
Keep in mind the next big upleg could start from around the 200 level (down 20% from here). So, it's going to take more than a year to discredit this chart. I'd guess it will take a drop to $150 to invalidate this count.
Tim 251.93 last TSLA +11.69 today on the "Model-D Sneak Peak" after the close yesterday
Don't bet your retirement account on this going to 1100, but that gives it a market cap of just over $100 billion, which may seem far-fetched but we never know.
Keep in mind the next big upleg could start from around the 200 level (down 20% from here). So, it's going to take more than a year to discredit this chart. I'd guess it will take a drop to $150 to invalidate this count.
Tim 251.93 last TSLA +11.69 today on the "Model-D Sneak Peak" after the close yesterday
Nota
Wave 2 has unfolded into a much longer, more complex pattern given all of the developments with the Model 3, Gigafactory, Driver-Assist/Autonomous, competition ahead from GM's Bolt, accidents, capital needs, 2ndary share sales, losses.... but that's growing pains! Stay tuned.Nota
Wave 1 is probably best labeled as the build of the Tesla Roadster many years before. To label the IPO as Wave 1 may have been very premature. I'll get the dates from Wikipedia: Produced 2008-2012. So effectively the transition from the start of one model to the next was 4 years. Model-X has had a bumpy start, so that pattern continues. Model-3 is pushing the envelope for a much faster release.
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