This is a long-term analysis of Tesla (TSLA) stock on the weekly timeframe, combining Elliott Wave Theory, Fibonacci extensions, and price structure (base formations) within a broad logarithmic trend channel.
Key Highlights:
🔹 Base Formations:
Base 1 (2010–2013): First consolidation before TSLA’s breakout.
Base 2 (2014–2019): A wide triangle structure leading to explosive growth.
Base 3 (2021–2024): Ongoing range suggesting wave (2) correction.
Base 4 (2026–2032): Projected future range before a possible euphoric blow-off phase.
🔹 Elliott Wave Structure:
Current wave count suggests TSLA is finishing wave (2) of a larger 5-wave structure.
Bullish impulse expected with wave (3), (4), and (5) leading to new ATHs, potentially into the $8,000–$10,000+ range.
A corrective ABC phase may follow, bringing price back toward key support (~$450 zone), aligned with Fibonacci retracements and channel support.
🔹 Fibonacci Levels:
0.618 and 2.618 extensions align with historical breakout points and future resistance zones.
Long-term projection targets include $1,226, $4,400, and potentially $8,000+, with eventual reversion to the mean.
🔹 Log Channel:
Price has respected a long-term ascending channel.
Midline and upper resistance bands guide potential future resistance zones.
Key Highlights:
🔹 Base Formations:
Base 1 (2010–2013): First consolidation before TSLA’s breakout.
Base 2 (2014–2019): A wide triangle structure leading to explosive growth.
Base 3 (2021–2024): Ongoing range suggesting wave (2) correction.
Base 4 (2026–2032): Projected future range before a possible euphoric blow-off phase.
🔹 Elliott Wave Structure:
Current wave count suggests TSLA is finishing wave (2) of a larger 5-wave structure.
Bullish impulse expected with wave (3), (4), and (5) leading to new ATHs, potentially into the $8,000–$10,000+ range.
A corrective ABC phase may follow, bringing price back toward key support (~$450 zone), aligned with Fibonacci retracements and channel support.
🔹 Fibonacci Levels:
0.618 and 2.618 extensions align with historical breakout points and future resistance zones.
Long-term projection targets include $1,226, $4,400, and potentially $8,000+, with eventual reversion to the mean.
🔹 Log Channel:
Price has respected a long-term ascending channel.
Midline and upper resistance bands guide potential future resistance zones.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.