Tesla

Tesla Inc saw its stock price correct sharply in the last week and the decline appears like an ABC correction. Looking back when it dipped in wave to at the start of the year that was a much bigger correction than what we have seen recently. The recent pullback also stops at the parallel channel of the last 2 bottoms. Thus, if prices hold the 345 support they can once again attempt to go back to the top end of the channel near 550 to 640. On this chart the 3rd wave so far has achieved equality to the 1st wave. A new hire would involve an extension and it would mean that the Vth wave of 3 is subdividing into 5 years and we are going to get 3 more waves on the upside. The stock most recently made a low of 330, holding which these wave counts would remain valid