10.01.202308:35 Forex Analysis & Reviews: Elliott wave analysis of Tesla for January 10, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Tesla has already reached the 78.6% corrective target at 97.98 but a firm bottom doesn't look to be in place just yet. We expect a temporary rally towards the 145-146 area from where a new attack on the downside is expected. We don't see Tesla making any major progress towards the downside, but we should see a new low below the former low at 101.81.

Short-term we expect minor resistance at 124.50 to be able to cap the upside for a minor setback to the 110-112 area before a new attempt to break above 124.50 for a rally towards the 145-146 target area.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.