Tesla (TSLA): Expecting a Pullback Before the Next Rise

9 ביולי

In our livestream a few days ago, we talked about the impressive rise in Tesla's stock. Since our last analysis on June 13th, the stock has jumped 38% in just 19 days. This was somewhat expected because there was a lot of negative sentiment towards Tesla, which often leads to a significant rise. Congratulations to everyone who believed in Tesla with us. Our position is currently profitable, and the stock looks very strong.

Current Situation:

The current situation shows that Tesla has risen 40 % in less than 25 days, even though there was a lot of negative sentiment. The stock is very strong right now, but a pullback is likely. We think the stock could go up to $256, finishing the sub-wave 3. After hitting this level, we expect a Wave 4 correction, which will give us a chance to make more entries.

Strategy:

We plan to enter between $217 and $200. We will set the stop-loss at about $198 to protect against a failed Wave 4 scenario. Our strategy involves expecting the Wave 4 correction to close follow-up gaps and retest important levels. Even though the performance is strong, we should be careful as this could still be a temporary rise before another drop (a dead cat bounce).

In conclusion, Tesla has shown impressive strength, but we expect a pullback before it goes up further. We are targeting the $256 level for the completion of Wave 3 and plan to enter more between $217 and $200, with a stop-loss at $198. We remain cautiously optimistic and will keep a close eye on the situation.