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Tesla On The Verge Of Confirming New Bull Run

By Dr. Arnout ter Schure Stock MarketsSep 09, 2022 01:04PM ET
www.investing.com/analysis/tesla-nearly-confirming-new-bull-run-200629621
Tesla On The Verge Of Confirming New Bull Run
By Dr. Arnout ter Schure   |  Sep 09, 2022 01:04PM ET
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Almost a month ago (see here), I provided an update on Tesla (NASDAQ:TSLA) using the Elliott Wave Principle (EWP). Since then, the EV maker has gone through a 3-for-1 stock split, so all the share prices have been updated accordingly. Back then, I wrote:

“[I am] tracking a potential impulse higher, which means TSLA should now have bottomed for (green) minor-4 of (red) intermediate-iii/c of (black) major-1, rally to around $330, correct to ~$290, and then rally again to ~$365 (green/red path, which is the ideal impulse path). If this path completes along those lines, it means TSLA will do one last Primary wave-V up to ideally $530+, as per the assessment in October [see here].

Tesla’s stock price topped the day after my article came out at $315 and has since fallen back to $266 earlier this week, only to rally back to the current high 290s. 

Thus, the objective EWP-based path I shared almost a month ago has filled in rather well, with only a few nuances: (green) W-5 topped ($315 vs. ~$330), and (red) W-iv has likely bottomed ($266 vs. ~$290), with (red) W-v of (black) W-1 now most likely underway. 

See Figure 1 below:

TSLA Daily Chart
TSLA Daily Chart

Figure 1. TSLA daily chart with detailed EWP count and several technical indicators

If this week’s low holds, TSLA can complete the impulse higher and, as said in my previous update, “In that case, the next larger pullback will be an excellent low-risk buying opportunity.” That pullback will be a W-2 and after that come W-3, 4, and 5 with an ideal upside target of $350.

Conversely, TSLA will have to drop below $265 from current levels to tell me this option is off the table. 

However, for now, the stock has followed the ideal EWP-based path, and I must continue to favor a bullish outlook until proven otherwise.

Tesla On The Verge Of Confirming New Bull Run
 

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Tesla On The Verge Of Confirming New Bull Run

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Comments (18)
Mike Sim
Mike Sim Sep 13, 2022 12:46PM ET
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RIP!
Lei Fang
Lei Fang Sep 13, 2022 10:35AM ET
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I am waiting for this Dr to jump out and yell "See! I predicted the drop in ******months ago!" Very hilarious guy
Javier Henche Chef
Javier Henche Chef Sep 12, 2022 6:12AM ET
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The problem is that this count has already been invalidated in all the indexes… so unlikely.
Dominic Chang
Dominic Chang Sep 11, 2022 11:28AM ET
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If CPI, PPI lower as expected then TSLA will go 308 - 316.
Joe Rizzuto
Joe Rizzuto Sep 11, 2022 7:39AM ET
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doctor of make it up as he goes along
Ronald Davis
Ronald Davis Sep 11, 2022 1:38AM ET
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25k on gold bought in at 1625 sold at 1725
Djamshid Bakiev
AMMM Sep 10, 2022 4:46PM ET
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Thank you for a throughout analysis. I think it is better to wait for confirmation of your thesis and say buy now because of this and that. If you are right thereafter, you are the best and if wrong, well, anticipate and improve your forecasting. In other words, what if I say it is 60% probability that a company x goes up according to my model and the rest 40 is my error term? Who cares!? The problem is that in current volatile circumstances it is better to wait for confirmation as you said in the headline of your article than to speculate on future. So timing is important.
Bill Windle
Bill Windle Sep 10, 2022 2:38PM ET
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what Bull run are you talking about until there's more monetary tightening and inflation drops another 8%, you're lost
George Steven
George Steven Sep 10, 2022 6:37AM ET
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The overall market: SP and NASDAQ is showing similar.
Mike Sim
Mike Sim Sep 09, 2022 4:46PM ET
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I honestly feel bad that some listen- let alone donate money to these have it both ways, after the fact articles printed on here. 8% off- claims its a win?! There is literally two opposite options always presented and then a “ but if this, then this” never ending loop provided by this author. This is a perfect example of 21st century snake oil salesman. Always an excuse, always a “yeah, but…”, always a “new idea” all after the fact. Hes knows no more of what it is going to happen than anyone reading. It could up or down is basically what he saying, but in a dressed up way. That said - he can always claim he was right….
jason xx
jason xx Sep 09, 2022 4:46PM ET
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Well you should understand right off the bat that no one can predict the future.
David Beckham
David Beckham Sep 09, 2022 4:46PM ET
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Totally agree
Dr. Arnout ter Schure
Dr. Arnout ter Schure Sep 09, 2022 4:46PM ET
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What part of “Thus, the objective EWP-based path I shared almost a month ago has filled in rather well, with only a few nuances: (green) W-5 topped ($315 vs. ~$330), and (red) W-iv has likely bottomed ($266 vs. ~$290), with (red) W-v of (black) W-1 now most likely underway.” was wrong? Please tell me! Next, i am very sorry if i cannot know exactly where price will top and bottom weeks beforehand. Nobody can. I so don’t understand why people expext 100% perfection in an imperfect word. If you can do better than start writing these updates yourself. If you cannot then shut up and listen. Simple.
Mike Sim
Mike Sim Sep 09, 2022 4:46PM ET
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Dr. Arnout ter Schure lol, a very defensive scammer. Get a grip. You were off 8% on that call, and youre claiming a win. Nasdaq 18k right? Lol
Mike Sim
Mike Sim Sep 09, 2022 4:46PM ET
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Dr. Arnout ter Schure if i were to “shutup and listen” - i would be broke chasing your flip flopping analysis. Probably like most of your “premium” members that are most likely fleeing droves- hence the fury of new articles in the past few weeks to try and con the next noob or desprate person that has been losing their shirt since 5,000 handle wipeout in the NASDAQ…
 
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