
TSLA closed May candles with two very encouraging signals that mean the odds of moving higher are better.
This monthly overview contains:
– analysis of technical indicators and candles on various time frames;
– long and short term forecasts and projected targets.
TA and CANDLES

The monthly candle (right chart) failed to confirm a bearish formation. Failed by 222 pips. Epic failure and it means that despite the red candle in May the monthly odds are neutral-bullish.
The weekly candle (middle) formed a Piercing Line that is viewed as a strong bullish formation with a good chance of a green candle this week.
The daily candles (left) pulled back after Three White Soldiers. The gap between 2nd and 3rd green candles will likely serve as a strong support going forward. Two days ago the 50 and 100 DMA made a bullish cross that could be a harbinger of recovery.
ELLIOTT WAVES
Long Term

TSLA presumably completed a Cycle wave IV and is starting wave V.
Target area: $1300-1625 or 75-120% off the current price $740.
Possible timing: as early as Q1 2023.
Short Term

TSLA could extend the current pullback towards $700 and is expected to rally towards $815-855 in the next week or two.
FORECAST
While the monthly odds have failed to flip bearish, the weekly and daily odds are bullish and the shorter term candles signal a continued rally.
Short Term Targets: $815-855
Timing: 1-2 weeks
Long Term Targets: $1300-1625
Timing: 3-6 quarters
REFERENCES
Previous Analysis:
https://investingangles.com/2022/05/28/tsla-tsla-short-28-05-2022-tsla-investingcom-elonmusk-billgates/
This post is part of the Weekly Analyses series that @InvestingAngles offers to followers and subscribers. The series covers the US and global major indices; VIX, DXY, commodities and miners, crypto, and some large cap stocks.
Btw, those who went long on $TSLA on this call on May 25th have already made 15%:
https://investingangles.com/2022/05/25/tsla-quick-update-25-05-2022-tsla-tesla-tesla/
Follow @InvestingAngles – we offer the best long and mid term forecasts.
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