Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Tesla’s Dead-Cat Bounce To $800 Still On Track

By Dr. Arnout ter Schure Stock MarketsMar 19, 2021 03:18PM ET
www.investing.com/analysis/teslas-deadcat-bounce-to-800-still-on-track-200568443
Tesla’s Dead-Cat Bounce To $800 Still On Track
By Dr. Arnout ter Schure   |  Mar 19, 2021 03:18PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

A week and a half after I last provided an update on Tesla (NASDAQ:TSLA), I was looking for:

“… a larger multi-day bounce to ideally $825+/-25 before the next leg lower kicks in. … The three waves are currently in progress, and the first wave has likely been completed (red wave-a). The second wave is now underway (red wave-b) to ideally $625+/-25, from where the next move higher (red wave-c) should kick into ideally $825+/-25 for a typical wave-C=wave-A relationship. That targets around the 76.40% retrace of the last decline as well as into the Horizontal Resistance zone.”

Fast forward, and the stock topped indeed for red wave-a the day I wrote my update. Today, its price has reached the red wave-b target zone of $625+/-25 as it bottomed today – so far – at $624.62. Can it get any more accurate? The Elliott Wave Principle (EWP) is almost all I need to reliably, accurately but not perfectly, forecast how assets will move from the smaller to the larger timeframes.

Figure 1. TSLA daily candlestick chart with EWP Count and Technical Indicators:

Tesla Daily Chart.
Tesla Daily Chart.

Thus, as long as $600 holds, which is the lower end of the red wave-b target zone, and ideally today’s low hold, I expect the next move higher towards $800-825 to get going soon, targeting $815 ideally. Once this red intermediate wave-c of black major-b completes, I expect the next leg lower: wave-c of blue Primary-IV to ideally $450+/-25.

Bottom line: The detailed EWP count shown in the previous update appears to be unfolding as anticipated. I now prefer to look higher for Tesla and for the price to reach $815 ideally. From there, I expect the next decline to ideally $450+/-25.

Tesla’s Dead-Cat Bounce To $800 Still On Track
 

Related Articles

Tesla’s Dead-Cat Bounce To $800 Still On Track

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (13)
Brian Prete
Brian Prete Mar 26, 2021 10:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Looks like it dipped just under $600 today before it shot back up to $620. Are we still on track for $800?
Stockfool Guruji
Stockfool Guruji Mar 21, 2021 6:55PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Tesla always surprises. I dont plan to hold any till i can stomach their volatility.
Rasib Awan
Rasib Awan Mar 21, 2021 6:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thank
Celalettin Durak
Celalettin Durak Mar 20, 2021 4:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thank you for your detailed analysis
Celalettin Durak
Celalettin Durak Mar 20, 2021 4:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Will we see another Nasdaq update from you soon ?
Dr. Arnout ter Schure
Dr. Arnout ter Schure Mar 20, 2021 4:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Celalettin Durak  thank you. yup, this week :-)
Ali Banava
Ali Banava Mar 20, 2021 4:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dr. Arnout ter Schure  did $600 hold or it extends to next week as well?
John Smith
John Smith Mar 20, 2021 3:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This thing is most likely trash.
Jon Cole
Jon Cole Mar 20, 2021 3:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
SNDL for the win! Dont be distracted by the big players
Gcj Rentals
Gcj Rentals Mar 20, 2021 10:14AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I'm not a tesla holder, but the musketeers are just as crazy as the wsb apes. Be careful betting against crazy.
Andrew Bevan
Andrew Bevan Mar 20, 2021 6:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You are showing some impressive work currently in markets that are nothing but turbulent. In the end, pieces fall into place and come together. Keep it up and thank you for sharing! 👍
Chris Poulos
Chris Poulos Mar 20, 2021 5:15AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dont all dead things bounce about the same? i mean what falls faster ...  a pound of feathers that is shaped like a cloud or a pound of lead that is shaped like an arrow?
Việt Ông Văn
Việt Ông Văn Mar 19, 2021 10:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Previous analysis, you said Tesla will reach 575 low and then move up 1000 or mid 1000s. Now you say it will reach 800 and then down to 450.
Tony Cheng
Tony Cheng Mar 19, 2021 10:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
but he is a very technical doctor of....MAGIC
Stockfool Guruji
Stockfool Guruji Mar 19, 2021 10:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He is an analyst not a magician.
Dr. Arnout ter Schure
Dr. Arnout ter Schure Mar 19, 2021 10:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That is not true. It was my ALTERNATE option. My PREFERRED option was and is and I quote from that article "(red wave-b) to ideally $625+/-25, from where the next move higher (red wave-c) should kick into ideally $825+/-25 for a typical wave-C=wave-A relationship. That targets around the 76.40% retrace of the last decline as well as into the horizontal resistance zone." My ALTERNATE option was based on "The weekly chart shows Tesla has already reached and exceeded the typical 38.20% retrace level of around $570. That suffices for a 4th wave of the (blue) primary degree. Thus, my EWP count on the daily chart could be wrong, and Tesla could already have completed the Primary-IV. A daily close above $850 will go a long way to confirm this thesis. It is, however, for now, not my preferred EWP count. If Tesla decides $537 was all of wave-IV anyway, then one has caught the right bus already and can ride it all the way higher to the low to mid-1000s." thus my PREFERRED path is playing out.
Joel Schwartz
Joel Schwartz Mar 19, 2021 8:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
How can you have a dead cat bounce back to ATH? That’s not how those work....
Luu Hung
Luu Hung Mar 19, 2021 8:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ath is 900 fyi. Have You ever seen dead car bounce?
Andrew Bevan
Andrew Bevan Mar 19, 2021 8:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The dead cat bounce occurs when there is no more room for selling and shorts are being covered. But in many cases they are shorter and swifter.
Solomon Lalani
Solomon Mar 19, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Doc: Chinese military bans Tesla!i dont think the stock will fare well next week
Dr. Arnout ter Schure
Dr. Arnout ter Schure Mar 19, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Solomon Lalani
Solomon Mar 19, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
161662794186638.jpg
161662794186638.jpg Dr. Arnout ter Schure  Hello Doc :) No 800? :). HOW was 699.5 and then resumed down again.  I expect $600 to break soon
Edward Chong
Edward Chong Mar 19, 2021 3:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
i doubt .
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email