From TradingView · · 1m
Tesla stock may retest downside support before 2028 rally
A technical analyst sees an ABC corrective wave pattern suggesting more downside before long-term gains.
In brief
A technical analyst sees an ABC corrective wave pattern suggesting more downside before long-term gains. Tesla may drop further in a corrective wave pattern before finding support and potentially rallying by 2028-2029. Originally reported by TradingView.
Tesla faces downside retest
Technical analyst enzennio predicts Tesla stock will retest lower support levels in the near term.
ABC corrective wave pattern
The stock appears to be in an ABC corrective wave, a technical pattern that typically signals more downside movement ahead.
“Abc corrective wave ? More downside to come.”
Keep cash ready now
Investors should prepare cash reserves to take advantage of lower prices when the stock finds support.
“Have cash ready now”
Long-term support zone ahead
The analyst identifies a buy zone where Tesla should find long-term support after the correction completes.
“After finding long term support in the buy zone”
Massive gains by 2028-2029
Once support is established, the technical outlook suggests substantial upside potential over the next four to five years.
“Massive gains by 2028 and 2029”
What it means
Tesla may drop further in a corrective wave pattern before finding support and potentially rallying by 2028-2029.
