Short Term Elliott Wave in Tesla (TSLA) suggests that rally from 4.22.2024 low is in progress as a 5 waves leading diagonal. The internal subdivision of this diagonal is in 3-3-3-3-3. Up from 4.22.2024 low, wave (1) ended at 271 and pullback in wave (2) ended at 181.22. The stock has turned higher in wave (3) with internal subdivision as a 3 waves zigzag structure. Up from wave (2), wave ((i)) ended at 207.65 and dips in wave ((ii)) ended at 188.50. The stock resumed higher in wave ((iii)) towards 219.80 and pullback in wave ((iv)) ended at 212.21. Final leg wave ((v)) ended at 228.22 which completed wave A in higher degree.

Pullback in wave B is in progress to correct cycle from 8.5.2024 low with internal subdivision as a double three. Down from wave A, wave (w) ended at 210.2 and wave (x) ended at 221.48. Wave (y) lower ended at 202.13 which completed wave ((w)) in higher degree. Wave ((x)) rally ended at 219.90. Expect the stock to resume lower in wave ((y)) towards 181 – 194 area to complete wave B pullback before the stock turns higher. Near term, as far as pivot at 181.22 low is intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Tesla (TSLA) 60 minutes Elliott Wave chart

TSLA Elliott Wave [Video]

 

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Recommended content


Recommended content

Editors’ Picks

AUD/USD tests 0.6250 after Australian Q4 GDP and China's Caixin Services PMI

AUD/USD tests 0.6250 after Australian Q4 GDP and China's Caixin Services PMI

AUD/USD is testing the 0.6250 barrier in Wednesday's Asian session. The pair flirts with intraday lows despite the impressive Australian Q4 GDP and China's February Caixin Services PMI data as US-Sino trade war fears remain a drag on the risk sensitve Aussie. 

AUD/USD News
USD/JPY pares gains to near 150.00 as Trump's tariff uncertainty roil markets

USD/JPY pares gains to near 150.00 as Trump's tariff uncertainty roil markets

USD/JPY has pared early gains to trade near 150.00 in Asian trading on Wednesday. Uncertainty around Trump's tariffs on Canada and Mexico roil markets, extending risk aversion into the second straight day in Asia and boosting the haven demand for the Japanese Yen, weighing on the pair. 

USD/JPY News
Gold: Buyers take a breather above $2,900 amid risk aversion

Gold: Buyers take a breather above $2,900 amid risk aversion

Gold price is consolidating the two-day upswing above $2,900 early Wednesday as buyers take a breather ahead of crtical US ADP employment data, which could provide fresh hints on the Fed's next interest rate move. Meanwhile, trade war fears-led risk aversion could limit Gold price downside. 

Gold News
Binance media traction drops 103% as Trump excluded BNB from crypto strategic reserve: How will price react?

Binance media traction drops 103% as Trump excluded BNB from crypto strategic reserve: How will price react?

Binance Coin price stabilized at $560 on Tuesday, with its 9% decline representing the lowest losses among the top five crypto assets. Rising trading volumes appear to be cushioning the impact of negative market sentiment.

Read more
Tariffs, Ukraine and Oil dominate

Tariffs, Ukraine and Oil dominate

The US imposed 25% tariffs on Canada and Mexico starting from today, it also imposed another 10% on China. The US also confirmed that it would suspend all military aid to Ukraine.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025