Tesla Wave Analysis – 16 November, 2022

• Tesla reversed from resistance level 200.00

• Likely to fall to support level 180.00

Tesla recently reversed down from the round resistance level 200.00 (previous monthly low from the middle of October), intersecting with the 38.2% Fibonacci correction of the downward impulse from October.

The downward reversal from the resistance level 200.00 continues the active short-term impulse wave 3 of the intermediate impulse wave (3) from September.

Given the clear daily downtrend, Tesla can be expected to fall further toward the next support level 180.00

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