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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Tuesday, March 25, 2014

TSLA - Wave iv of 5 Low in Place?

TSLA sold off to 210 yesterday and I added to my long position. Trading at 222 today, I still don't think this stock is overpriced, so I'd still get in.

The low yesterday occurred in the box where wave iv=.382*iii, iv=1.618*ii and y of iv = w of iv. There is good Fibonacci support so I'm respecting that.

As of March 11, TSLA had 37% of it's float short. If there is a short covering rally my target of 300+ will be hit sooner than later.

1 comment:

  1. James,
    Extended 5th wave will have deep retrace to 2nd wave and that's what happened in TSLA//FB.
    I'm still seeing a downside to TSLA to 137 level before any move up