It is still early to launch the bells to the flight but there is no doubt that the sensations in the value begin to improve little by little. We have a promising double support, not double bottom. Or at least for the moment there is no double bottom that is worth it.
Exactly one week ago we analyzed Tesla and we said that if we had to jump into the pool it had to be right now. The typical “now or never” that I usually mention on many other occasions. The fact is that the important support that we have in the lows of the ‘hammer’ of the March 5 session at $ 539.49. And the fact that the price has bounced just before is a signal that invites us to be optimistic. For Elliott we may be facing a correction irregular flat. Where ‘wave c’ stays above ‘wave a’.
So it can be said that we have approximately double support in the March lows. Y only above the April highs (780.79) can we speak of a double bottom. If this double bottom is confirmed later on, a return to the all-time highs with a high probability of beating them without much trouble can be considered as the most likely scenario. But we go little by little, step by step and the most important thing now, respect the latest rising low at $ 547.
Tesla daily chart