Technical discussion on X today centered on Fibonacci retracements and Elliott Wave structures in several high-profile names.

@MMatters22596 noted that in $ASTS, Wave A is nearly complete and expects further correction below $50 before a stronger rebound. The long-term bullish case remains intact, but confirmation is still needed.

The same analyst posted a list of key support levels across AI infrastructure, software, physical AI, semiconductors and energy, including $NVDA at $191, $TSLA at $277 and $ASTS at $51, and asked which names traders would buy on a pullback.

@AsafNaamani reiterated a post-rally Fibonacci strategy: focus on the 0.5 and 0.618 retracement levels. Strong stocks tend to defend these zones while weaker ones break them. This serves as a gauge for whether the uptrend remains healthy.

For $TSLA specifically, @MMatters22596 favors a bullish medium-term setup with support between the 0.5 Fib ($358) and 0.786 Fib ($277). A bearish break below $277 would open targets toward $207–$158.

Why it matters

These levels provide traders with potential entry and exit points and a framework for risk management amid current volatility.

The bottom line

Today's technical conversation revolved around identifying support zones and corrective waves in growth stocks, with an emphasis on disciplined Fibonacci analysis.