FX.co ★ Elliott wave analysis of Tesla for January 26, 2023

Tesla has seen a correction just as we predilected in our article from January 10th. The rally to 144 could be enough, but we are not blind to the possibility of this correction being prolonged closer to 169 before completing and setting the stage for the final decline towards our ideal target near 97.98. This final dip should complete wave 4 and set the stage for a test to move higher in wave 5 which ultimately should eclipse the peak of wave 3 at 414.50. For now, we are interested in locating the termination point of wave 4/ to set the stage for the final dip in wave 5/ of 4.