SNHY, TSLA, WDAY, ZEUS updates 06/12

SNHY: This was a challenge to say the least and I’ve discussed it a bit with my member who requested it before, but I think the count I have now and which is rather different is an elegant solution to the problem. See for yourself: an irregular failed flat (yellow) major-2 wave and major at the 176.40% extension and major-4 underway. Note that ATH could also have been all of Primary-C (since there’s so far only 3 larger waves up). And yes, stock can move in 3s, they don’t have to be 5’s all the time. Just check commodities and forex. All are mostly 3s. A drop below the 61.80% retrace at ~$42 will make this having topped in my book. IF we get a major-5 it should target ideally 82.50ish.



TSLA: Late March (see here) I already warned TSLA stock could be on the cusp of a nasty decline AFTER a bigger bounce first to the ” 300-320 zone“. Well, we got the bigger bounce so far… and it has moved a bit higher than expected. Albeit it can go still a bit higher to around $355ish (76.4% retrace). IF this larger ABC-down is what is transpiring than the C-wave targets are revised upwards to ~120-215. We will need to see a break below the lower green uptrend line to confirm this count. Cont’d below.

TSLA weekly

What the Bulls like to see is the final 5th wave up in a very large diagonal triangle. Given that the money flow is still positive and increasing (see monthly OBV above), this might very well be the case. The daily chart below shows in more detail what’s going on. First: price is back above its 200d SMA. That’s a positive development. 2nd in the case of only an abc wave up, the 362-378 price levels will be key as that’s where c=1.382x a and c=1.618x a. Note that a strong resistance zone is right at the 1.382x a extension. I expect shorter term any further upside to be kept in check by this zone and Fib-extension. Note price so far reached the larger 76.4% retrace at $354 to the T today.

TSLA daily

If the Bulls can push it above both (resistance zone and Fib-extension) than I am much more inclined to put the LD front and center. It should reach mid-400s. Until then, the burden of proof is on the Bulls.


WDAY: An update on this ticker shows that (yellow) major-3 peaked and major-4 is underway.  Ideally to around $110, which is the 38.2% retrace, for an expanded flat (a=b, with c=1.382x a). But, it is possible we only get the shallower 23.6% retrace and a regular flat (a=b=c) instead. A break above $140 will confirm the latter, whereas a break below $122 the former. Hence, watch those levels. Ideally we then get a 5th wave rally to the 200% extension (after wave-3 topped at the 161.80% extension and wave-4 bottomed at the 100% extension: TEXT book folks!). A break below the 100% extension for major-4 will mean the yellow major-c and therewith Primary-C has topped. But since C-waves are more often than not 5-waves I only see that as an alternative.



ZEUS: We have a nice impulse up for blue primary wave I/A, and so far a corrective pattern down to possible primary wave II/B. Price is now stuck in this long-term S/R zone (white lines) between around $16-$30. A breakout above $30 targets $45ish and most likely means III/C is underway, although a much larger B-wave cannot be excluded, but that’s a bit trivial from a trading perspective as $50% gains can be made and who cares what wave it is then 😉 A break below $16, however, targets likely around $1… So pick your poison very carefully and it be advisable to wait for that breakout IMHO because price is right now in “no-mans-land” I’d say.