Tesla Update: Thought Experiment
As the title mentions I am going to predict what I think the earnings report will result in. But first I want to point out that I have changed my ALT back to my primary. As I have said, I've been leaning towards this count for some time now. If my old-time followers remember, a couple months ago I said the bottom for (2) should hit the $180 area. Price hit $193 on 31 Oct and started to rally up appearing impulsive at first glance. I think that was a hood wink and was actually the A wave of intermediate (B). Should that be the case, that would mean we're in a of (C) of (2) right now. Long term this makes much more sense too.
Now on to this earnings report coming in the next hour or so. In the past, Tesla earnings has always been "buy the rumor sell the news". During the beginning of the meeting price has normally spiked up followed by a hard fall. They are ALWAYS volatile to say the least. I think today won't be much different. I think it causes us to spike up to complete or at minimum get a good start to the b wave of (C) followed by a hard fall which would coincide with the strength one would expect to see from a C wave of any degree.
After we complete the b wave, if that is the correct count, we should be dropping to my target box of $154-$181 in a 5-wave move. Should this actually be the start of (3) then earnings will cause us to continue to rise well past our recent high of $265.12. Either way, we will find out in a couple hours for sure.
Now on to this earnings report coming in the next hour or so. In the past, Tesla earnings has always been "buy the rumor sell the news". During the beginning of the meeting price has normally spiked up followed by a hard fall. They are ALWAYS volatile to say the least. I think today won't be much different. I think it causes us to spike up to complete or at minimum get a good start to the b wave of (C) followed by a hard fall which would coincide with the strength one would expect to see from a C wave of any degree.
After we complete the b wave, if that is the correct count, we should be dropping to my target box of $154-$181 in a 5-wave move. Should this actually be the start of (3) then earnings will cause us to continue to rise well past our recent high of $265.12. Either way, we will find out in a couple hours for sure.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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