Back then I expected a deep pullback targeting at least $173. However, after TSLA dropped under $250 it reversed its course and retested previous highs. By this moment I have not changed my mind about the large rally started at $14.98 in June 2010 having completed in June 2018 at $386.99. I can count full large five waves up being in place.

In general when a stock tops out in five wave impulsive fractal we expect a corrective structure to unfold. It is impossible to predict what specific corrective pattern will be played out. There are two general types of corrections, through price or through time. When stocks correct through price following a simple zig-zag pattern, we see deep pullbacks that may correct anywhere from 50% to 61.8% or even from 76.4% to 85.4% of the whole preceding rally. It seems in this case we will get a shallow correction through time called a double three which is a combination of two corrective A-B-C moves down. On the chart below you can see that the first decline shaped as A-B-C stopped at a common retracement ratio of 38.2% of the large preceding rally started in 2010.