TSLA to 320-400 in an Elliott Wave 3?

Tesla, the electric car maker and clean energy company, has been on an impressive run over the past year. From a low of $102 per share the stock has skyrocketed to over $220 per share. Now, according to Ted Aguhob, a master Elliottician, the stock has broken major resistance at $210 per share, setting up a wave 3 that could take it to $320 or even $400+.

For those unfamiliar with Elliott Wave Theory, it is a method of technical analysis that uses chart patterns to predict market trends. According to the theory, the market moves in a series of five waves, three of which are impulse waves (waves 1, 3, and 5) and two of which are corrective waves (waves 2 and 4). These waves can be seen on charts and can help traders and investors make informed decisions about when to buy and sell stocks.

As Aguhob explains, Tesla has been in an uptrend since its low in Jan 2023. The stock started its wave 1 in Jan 2023 and completed its zigzag in Apr-June 2023. From there, it began its wave 3, which Aguhob believes has now broken a major resistance level at $210 per share. This sets up the potential for the stock to enter a wave 3 that could take it to $320 or even $400+.

It is important to note that Elliott Wave Theory is not foolproof and there are risks to any investment. However, Aguhob's analysis is backed by years of experience and successful predictions. He has been following Tesla for some time and has accurately predicted several major moves in the stock.

There are several reasons why Tesla could continue to rise. For one, the company is a leader in the electric vehicle market and has a strong brand and loyal following. It has also recently announced plans to expand its production and launch new models, which could drive sales and revenue growth. Additionally, the company is investing heavily in clean energy and sustainable practices, which is becoming increasingly important to consumers and investors alike.

Of course, there are also risks to investing in Tesla. There are concerns about its valuation and competition in the electric vehicle market. Additionally, the stock has been volatile in the past and could see sharp swings in either direction.

Overall, Ted Aguhob's analysis suggests that Tesla could be entering a period of strong growth. However, investors should do their own research and carefully consider the risks before making any investment decisions. With the proper research and sound analysis, investors can potentially benefit from the opportunities that Elliott Wave Theory and other technical analysis methods can offer.