TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: on the update of previous weekend, I had TSLA in wave a of 3 and considered 291.91 as my target for the peak. Then, wave b of 3 was expected to bottom sometime on the second or third week of August around 230.
Update: congrats to anyone who got this amazing move this week based on our analysis.
What I see at the moment is that wave b of 3 is playing out as a zigzag correction and wave (a) of b is almost complete.
I expect a final push lower on Monday morning to 249.38 (based on the fib extension for a typical wave 5) as wave V of (a), which is a 40D cycle trough.
Note that the target that the 40D cycle FLD provided is ~248 and because the trend underlying that cycle is flat, this target is expected to be exactly met (which is also supported with the fib target mentioned above).
What follows is a multi-day correction as wave (b) of b of 3, which would provide an amazing opportunity to participate in another bearish move: we are moving lower to form a 40W cycle trough and my target for that is 225.50 happening on the second or third week of August (when we get more price action and FLD breaks in the following days, it would provide us with additional targets for that trough).
Update: congrats to anyone who got this amazing move this week based on our analysis.
What I see at the moment is that wave b of 3 is playing out as a zigzag correction and wave (a) of b is almost complete.
I expect a final push lower on Monday morning to 249.38 (based on the fib extension for a typical wave 5) as wave V of (a), which is a 40D cycle trough.
Note that the target that the 40D cycle FLD provided is ~248 and because the trend underlying that cycle is flat, this target is expected to be exactly met (which is also supported with the fib target mentioned above).
What follows is a multi-day correction as wave (b) of b of 3, which would provide an amazing opportunity to participate in another bearish move: we are moving lower to form a 40W cycle trough and my target for that is 225.50 happening on the second or third week of August (when we get more price action and FLD breaks in the following days, it would provide us with additional targets for that trough).
