An analyst known for his timely crypto calls is predicting Tesla (TSLA) will soon print a series of explosive rallies.
Pseudonymous analyst Bluntz tells his 328,600 followers on X that Tesla’s technological innovation is positioning the automaker to become a multi-trillion dollar company, while its stock is starting a third-wave in an ongoing five-wave uptrend.
Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to exhibit a five-wave rally, with waves one, three and five acting as upward moves and waves two and four serving as corrective periods.
“Two more days until TSLA posts its highest-ever monthly close. If FSD (Full Self-Driving) gets good enough to remove the safety driver, which is inevitable and sounds like it’s not too far away TSLA shifts very quickly from a $900 billion automaker to a multi-trillion dollar AI (artificial intelligence) mobility platform.”
Looking at his chart, the analyst suggests TSLA will increase to about $1,200. TSLA is hovering around $438 at time of writing, up more than 8% year-to-date.
Next up, the analyst says semiconductor testing company Teradyne (TER) completed an ABC correction and the stock is now targeting massive new all-time highs.
The Elliott Wave theory states that a bullish asset tends to witness a new uptrend after completing an ABC correction.
“So many AI infra (infrastructure) plays looking like BTC did in November last year, with HTF (high timeframe) consolidation above prior cycle ATH (all-time highs). Big fan of Teradyne fundamentally and technically.”
TER is trading around $134 at time of writing, up more than 6% year-to-date.
He also says that Australian-based company Silex Systems Limited (SLX), a uranium enrichment company, has more upside potential after reaching new all-time highs.
“SLX punching fresh 15-year highs today and so far the best performing stock in the whole nuclear sector this month sitting at +68% for the month. The nuclear and uranium sector is going nuclear.”
SLX is trading for $6.57 at time of writing.
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