Tesla - falling channel or bull flag ?
A simple chart with fib retracement of the move since the end of October to ATH.
This could be a 5-wave move up with correction to the 0.618 retracement and turn into a bull flag pretty soon. Or it can keep correcting within that channel.
Tesla is a stock that is not trading on fundamentals, but on investor sentiment and Elon Musk mixed with lots of fibonacci pinball by the trading algorithms.
It all depends on the NDX. If the index goes up, so does TSLA. If it doesn't, next target is 320$.
This could be a 5-wave move up with correction to the 0.618 retracement and turn into a bull flag pretty soon. Or it can keep correcting within that channel.
Tesla is a stock that is not trading on fundamentals, but on investor sentiment and Elon Musk mixed with lots of fibonacci pinball by the trading algorithms.
It all depends on the NDX. If the index goes up, so does TSLA. If it doesn't, next target is 320$.
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