empty
27.04.2021 08:16 PM
Short-term wave analysis on Tesla stock

The stock price of Tesla has most probably completed a wave II formation at recent highs at $780 and has now started a new impulsive move lower. So far we have seen a clear impulsive downward wave from $899 to $539. It was followed by a three wave upward correction and we now have many chances that this is over.

This image is no longer relevant

Red line - support

Green line - expected path

Tesla stock price got rejected at the 61.8% Fibonacci retracement. Support is found at $662. Breaking below this level will increase chances of this bearish scenario. Our view is to see another leg down in Tesla stock price similar to the first decline if not bigger. This could lead price towards $430. We prefer to be bearish Tesla stock price with a stop at recent highs of $780.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Stock market on November 5: S&P 500 and NASDAQ suffer heavy losses

Yesterday, US stock indices closed with losses. The S&P 500 fell by 1.17%, the Nasdaq 100 plummeted by 2.04%, and the Dow Jones Industrial Average lost 0.53%. Global indices continued

Jakub Novak 08:40 2025-11-05 UTC+2

Stock market on November 4: S&P 500 and NASDAQ come under pressure

Yesterday, stock indices ended mixed. The S&P 500 rose by 0.17%, while the Nasdaq 100 gained 0.46%. The Dow Jones Industrial Average fell by 0.48%. However, today, pressure

Jakub Novak 08:08 2025-11-04 UTC+2

Stock market on November 3: S&P 500 and NASDAQ maintain their strength

Last Friday, stock indices ended with gains. The S&P 500 rose by 0.26%, while the Nasdaq 100 increased by 0.61%. The Dow Jones Industrial Average added 0.09%. American indices began

Jakub Novak 08:24 2025-11-03 UTC+2

Stock market on October 31: S&P 500 and NASDAQ see minor corrections

Yesterday, US stock indices ended lower. The S&P 500 decreased by 0.99%, the Nasdaq 100 fell by 1.57%, and the Dow Jones Industrial Average dropped by 0.93%. During today's trading

Jakub Novak 08:40 2025-10-31 UTC+2

Stock market on October 30: S&P 500 and NASDAQ hold at record highs

Yesterday, US stock indices closed mixed. The S&P 500 showed no movement, closing with a 0.00% change, while the Nasdaq 100 gained 0.55%. The Dow Jones Industrial Average declined

Jakub Novak 09:30 2025-10-30 UTC+2

Stock market on October 29: S&P 500 and NASDAQ maintains strong upside momentum

Yesterday, US stock indices closed with gains. The S&P 500 rose by 0.23%, while the Nasdaq 100 strengthened by 0.80%. The Dow Jones Industrial Average added 0.34%. Asian indices have

Jakub Novak 08:52 2025-10-29 UTC+2

Stock market on October 28: S&P 500 and NASDAQ at new all-time highs

Last Friday, US stock indices closed with gains. The S&P 500 rose by 1.23%, while the Nasdaq 100 strengthened by 1.86%. The Dow Jones Industrial Average added 0.71%. After reaching

Jakub Novak 08:35 2025-10-28 UTC+2

Stock market overview for October 27: S&P 500 and NASDAQ hit fresh record highs

Last Friday, US stock indices closed higher, with the S&P 500 up by 0.79% and the Nasdaq 100 gaining 1.15%. The Dow Jones Industrial Average increased by 1.01%. The record

Jakub Novak 08:45 2025-10-27 UTC+2

Stock market on October 24: S&P 500 and NASDAQ on track for new all-time highs

Yesterday, US stock indices ended in positive territory. The S&P 500 rose by 0.58%, and the Nasdaq 100 strengthened by 0.89%. The Dow Jones Industrial Average added 0.31%. Asian indices

Jakub Novak 09:23 2025-10-24 UTC+2

Stock market on October 23: S&P 500 and NASDAQ resume losses

Yesterday, US stock indices closed lower. The S&P 500 fell by 0.53%, while the Nasdaq 100 declined by 0.91%. The Dow Jones Industrial Average dropped by 0.71%. Meanwhile, European indices

Jakub Novak 09:47 2025-10-23 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.