FX.co ★ Elliott wave analysis of Tesla for October 5, 2021

Tesla is close to completing wave B of a major correction. If so, it may decline into the key support area between 366 - 468 from where a new impulsive rally is likely to occur. However, the main trend for the next months will be a bearish one to complete the ongoing correction.

In the short term, we will be looking for a minor rally closer to resistance at 823. This corrective rally may pish the quote to 468.