Tesla Long TO $1200

26. Apr. 2021

Following is a LONG analysis of Tesla Inc coming in for the next few weeks/months. The five-wave Elliott wave series started on June 25th, 2020 around $185 developing a good 5 wave series, here are few confirmations of why I think this is a 5 wave series:

1) Wave 1 started low at $185
2) Wave 2 is a symmetrical triangle that finished correcting W1 at 38.2% correction at $398
3) Wave 3 started on Oct 20, 2020 and had a good run-up of FIB 161% from $398 to $900 ending on Jan 26, 2021
4) Wave 4 is a sharp zig-zag correction but sine Wave 2 is a longer correction, Wave 4 is a shorter and sharp correction ending around $555
5) We are now in Wave 5 of the total Elliot 5 wave series and wave 5 is calculated in the following ways :

  a) Calculate the length from the start of W1 ($185) and end of W3 ($900) = 900-185= $715
  b) Calculate the length FIB levels ratios of this length of $715
         38.2% ($175) - $273.13
         50% (175) - $357.5
         61.8% (175) - $441.87
         100% (175) - $715

6) Now add each of these levels to the end of W4 which is also the start of W5 i.e. $555, so we get the following projections for Wave 5 $828,$912, $996, 1270

---------------- Summary --------------

1) I believe for Tesla we are at the start of Wave 5 as a big Wave 4 correction ended just recently
2) I believe Wave 5 is going to be an extended wave because Wave 1 & Wave 3 are of normal length
3) My prediction for Wave 5 is a minimum of 100% extension which is around $1270 in the next coming months

Appreciate everyone's feedback, happy trading