Overview: let's review the key points of the previous update (September 15th):
Update:
As we expected, TSLA invalidated the bullish expectations.
Analysis of the Structure:
I am doing a major relabeling to the daily chart. I see the move from January 2023 low to July peak as a wave 1 and the current move is a wave 2 correcting that whole move.
It is too early to come up with targets for the bottom of wave 2, but a typical wave 2 ends in the range of subwave b of previous wave 1, 152.37 to 217.65 on TSLA.
Looking into the hourly chart, I see wave I of (a) of y of 2 being complete. What follows is wave II to the 260-270 zone in the coming week.
Analysis of the Cycles:
As we expected, yesterday, we completed the first 40D cycle of the current 40W cycle. A typical 40D cycle is 34 days and this 40D cycle completed at 35 days, a perfect cycle.
The next major trough is the 80D cycle trough expected on 14th to 24th of October. Yesterday, we also got a cross of the 40D FLD to the downside, generating a target of 225 for the coming 80D cycle trough (the bearish pressure will bring an overshoot of the target).
- MAJOR warning signs on other charts, except TSLA.
- Be careful being bullish.
- In wave b of (III) developing as a flat correction.
- 262.53 for the bottom, can be a golden opportunity to participate in the a bullish move.
- 40D cycle trough: 22nd or 25th of September.
- No change to the 80D cycle peak and trough dates.
- Important action to watch: interaction with the 20W FLD on September 22nd or 25th.
Update:
As we expected, TSLA invalidated the bullish expectations.
Analysis of the Structure:
I am doing a major relabeling to the daily chart. I see the move from January 2023 low to July peak as a wave 1 and the current move is a wave 2 correcting that whole move.
It is too early to come up with targets for the bottom of wave 2, but a typical wave 2 ends in the range of subwave b of previous wave 1, 152.37 to 217.65 on TSLA.
Looking into the hourly chart, I see wave I of (a) of y of 2 being complete. What follows is wave II to the 260-270 zone in the coming week.
Analysis of the Cycles:
As we expected, yesterday, we completed the first 40D cycle of the current 40W cycle. A typical 40D cycle is 34 days and this 40D cycle completed at 35 days, a perfect cycle.
The next major trough is the 80D cycle trough expected on 14th to 24th of October. Yesterday, we also got a cross of the 40D FLD to the downside, generating a target of 225 for the coming 80D cycle trough (the bearish pressure will bring an overshoot of the target).
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.