FX.co ★ Elliott wave analysis of Tesla for December 22, 2022

Tesla continues to decline as expected. By breaking nicely below the S/H/S neckline, we should see a continuation lower toward support in the 88-90 area. Tesla is currently trading near support, so a temporary corrective rally should not come as a surprise, but mark the words temporary. Renewed downside pressure should ultimately set the stage for the continuation lower to the 88-90 support area from where a final impulsive rally remains probable towards new all-time highs.