From last Weekly: “If on Monday-Tuesday TSLA closes below ~605, the decline is likely to continue.” Be ready for $500 or $400 in the next few weeks/months.
With closure below $605 today, $TSLA is likely to form and break through the lower boundary of the bearish pennant and move below 200 MA. If the move continues down tomorrow, these would be the most probable targets.
Target by the pennant: $390.
Targets by Elliott Waves:
– C = 0.786 x A: $500
– C = 1.0 x A: $420.
Let’s see how it plays.
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