Stocks

Tesla Elliott Wave Analysis: Bulls Attempt to Regain ControlOct 2, 2026

Tesla sold off aggressively in July following a disappointing earnings report, breaking below the 335 support and extending the deeper correction from the December highs. However, we still think this decline can be counted as wave C within a larger corrective structure.

Tesla Elliott Wave Analysis: Bulls Attempt to Regain Control
TESLA Daily Chart

Price is now reversing from the lower boundary of the declining channel, while the earnings gap has been filled and the bullish level was also tested. This opens the door for bulls to take control with wave 1 of a new five-wave bullish cycle. After the most recent wave 2 pullback, we could now see continuation higher within wave 3, especially if price breaks above the channel resistance and moves towards the 400 area.

Highlights:

  • Bullish reversal from a key support level.
  • A recovery above 369 would confirm a more bullish outlook.
  • A breakout above the channel resistance and 400 level would put wave 3 in play.

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Tesla Elliott Wave Analysis: Bulls Attempt to Regain Control

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