Tesla printed its lowest point on day 35, placing it in its timing band for a DCL.
Tesla recovered the 10 day MA on Wednesday then delivered bullish follow through on Thursday to signal the new daily cycle. Tesla is currently in a daily downtrend. But a close above the upper daily cycle band will end the daily downtrend and begin a new daily uptrend.
Tesla printed its lowest point on week 14, placing it in the early part of its timing band for a ICL. Tesla formed a weekly swing low to signal a new intermediate cycle. We will need to see a close above the 10 week MA to label week 14 as the ICL. Tesla is currently in a weekly downtrend. Tesla will remain in its weekly downtrend unless it closes back above the upper weekly cycle band.
Over the past 11 years Tesla yearly cycle low formed, on average, every 11 months.
February is month 13, placing Tesla in its timing band for a YCL. Tesla is in the process of forming a bullish monthly reversal, which eases the parameters for forming a monthly swing low, A month swing low and close above the 10 month MA will signal the new yearly cycle.
Summary:
- Tesla is in its timing band for a YCL
- Tesla is in its timing band for an ICL and formed a weekly swing low.
- Tesla has confirmed the new daily cycle.
- A close above the triple convergence of the 10 week MA, the 50 week MA and the 200 week MA will confirm the new weekly cycle and signal the new yearly cycle.
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