Tesla Update

21. Nov.

Today was yet another day of chopping within this area. I will re-iterate, we're waiting on wave c of A to commence, or for price to make OMH. My primary analysis remains we have topped; however, we have no confirmation of that. As you can see by the labels on the chart, I am counting this move off of the 23 October bottom as an abc pattern. There is the possibility it is a 5-wave c wave according to the turquoise labels. Should the ALT be the case, we would be looking for OMH into the area of $376-$397. This area has our larger 1.618 @ $395.90 (orange fibs) and turquoise 2.0 @ $397.25. The depth in which MACD dropped makes me feel this is not a wave 4, but y'all know MACD doesn't dictate the count. It is just a tool we use to help us in labeling the structure.

In short, price raises to make OMH or begins dropping from here towards the lower target box. Please let me know if you have any questions.