Tesla Inc.: technical analysis for May 12, 2023

, the world's leading electric car maker, is trading at 172.00.

On the daily chart, the price is correcting within the global descending corridor with dynamic boundaries of 190.00-145.00, forming an ascending wave.

On the four-hour time frame this wave is developing as a local corridor with dynamic boundaries 177.00-167.00, which can work as a pattern "flag", which will mean the continuation of the decline to the minimum at 152.00. Further dynamics of quotations will be determined by the direction of their exit from the local channel.

Technical indicators hold a neutral position: the fast EMAs on the alligator indicator are close to the signal line, and the AO histogram is held in the buying zone near the transition level.