TSLA looks to be going thru a repeated cycle since it marked its bottom at the start of 2023. Currently TSLA is in a rising channel with mirroring patterns inside
Cycle 1 (January-February)
1st leg up
Cycle 2 (February-April)
1st Consolidation phase (70 days marking the bottom) that is ended with an inverse head & shoulders (~77 Days)
Cycle 3 (May-July)
2nd leg up
Cycle 4 (July-?)
2nd consolidation (~70 days so far) and looks to be setting up an inverse head & shoulders similar to cycle 2
Cycle 5
I am anticipating cycle 4 to end shortly and cycle 5 to be TSLA's 3rd leg up targeting the upper trendline of the rising channel
Cycle 1 (January-February)
1st leg up
Cycle 2 (February-April)
1st Consolidation phase (70 days marking the bottom) that is ended with an inverse head & shoulders (~77 Days)
Cycle 3 (May-July)
2nd leg up
Cycle 4 (July-?)
2nd consolidation (~70 days so far) and looks to be setting up an inverse head & shoulders similar to cycle 2
Cycle 5
I am anticipating cycle 4 to end shortly and cycle 5 to be TSLA's 3rd leg up targeting the upper trendline of the rising channel
Nota
^ Anchored VWAP (purple) from the bottom of cycle 2
Nota
Sitting at huge area of confluence - At the lower trendline
- .618 Fib retracement
- Anchored VWAP
- Big support zone
Nota
Beautiful break outside the consolidation phase and now looks to be on the run for the next leg upNota
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