Tesla shares just finished wave 2 a-b-c up to the 38.2% fib today. While the 10% bounce may seem exciting, it is not going to last very long according to my model. I count 5 pretty clear waves down for TSLA. Notice that the 3rd wave had a gap down and then ended with a falling wedge. So that is a pretty high confidence label. Then it got 5 more good waves down into red 5/blue 1.
The it got a weak bounce into red "a", a big sell off into red "b" a very strong C wave bounce into red "c". There is still the threat that it will fill the gap up to the 50% fib which is why tight stops are important but whether it stops at the 38.2 or the 50 fib, I think the initial 5 waves down means that TSLA is in for lower prices ahead.
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