RogueEconomics

Diamond Reversal Forming On Tesla ($TSLA)

Short
RogueEconomics Mis à jour   
NASDAQ:TSLA   Tesla
This pattern on TSLA fits the outline for a diamond reversal that is referenced on Investopedia.

It has all the "classical" facets of a diamond reversal which is a high (A), a low (C) a higher-high.

Furthermore, this is happening alongside a very similar pattern on NFLX and some bearish patterns on many other stocks.

Similar forms also occurred on SPX in 2021-2222 and Bitcoin in 2021.

The move up from the 2023 lows has the form of an ABC up... which suggests another 5 wave downmove on-par with or even exceeding the previous downmove is on the way.

The move off the highs was a whole 75% so even presuming a moderate 1:1 ratio, the next wave down could be very aggressive which means that an excellent short could be lining up.

Trade safe and be careful out there.
Commentaire:
Correction

Line 2 should say: It has all the "classical" facets of a diamond reversal which is a high (A), a low (C) a higher-high (B) and a zig-zag move along axis (D).
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