diff --git a/python/src/com/jetbrains/python/inspections/PyTupleAssignmentBalanceInspection.java b/python/src/com/jetbrains/python/inspections/PyTupleAssignmentBalanceInspection.java
index 694b366ff9a9..d773ac9a91fc 100644
--- a/python/src/com/jetbrains/python/inspections/PyTupleAssignmentBalanceInspection.java
+++ b/python/src/com/jetbrains/python/inspections/PyTupleAssignmentBalanceInspection.java
@@ -3,10 +3,10 @@ package com.jetbrains.python.inspections;
 import com.intellij.codeInspection.LocalInspectionToolSession;
 import com.intellij.codeInspection.ProblemsHolder;
 import com.intellij.openapi.vfs.VirtualFile;
-import com.intellij.psi.PsiElement;
 import com.intellij.psi.PsiElementVisitor;
 import com.jetbrains.python.PyBundle;
 import com.jetbrains.python.psi.*;
+import com.jetbrains.python.psi.types.PyType;
 import org.jetbrains.annotations.Nls;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
@@ -38,21 +38,15 @@ public class PyTupleAssignmentBalanceInspection extends PyInspection {
     @Override
     public void visitPyAssignmentStatement(PyAssignmentStatement node) {
       PyExpression lhsExpression = node.getLeftHandSideExpression();
-      PsiElement assignedValue = node.getAssignedValue();
-      if (assignedValue instanceof PyParenthesizedExpression)     // PY-2659
-        assignedValue = ((PyParenthesizedExpression)assignedValue).getContainedExpression();
+      PyExpression assignedValue = node.getAssignedValue();
       if (lhsExpression instanceof PyParenthesizedExpression)     // PY-4360
         lhsExpression = ((PyParenthesizedExpression)lhsExpression).getContainedExpression();
-      if (assignedValue instanceof PyReferenceExpression) {          // PY-4357
-        assignedValue = ((PyReferenceExpression)assignedValue).followAssignmentsChain(resolveWithoutImplicits()).getElement();
-      }
-      if (lhsExpression instanceof PyTupleExpression) {
-        int valuesLength = 1;
+
+      if (assignedValue == null) return;
+      PyType type = assignedValue.getType(myTypeEvalContext);
+      if (lhsExpression instanceof PyTupleExpression && type != null) {
+        int valuesLength = PyUtil.getElementsCount(assignedValue, myTypeEvalContext);
         PyExpression[] elements = ((PyTupleExpression) lhsExpression).getElements();
-        if (assignedValue instanceof PySequenceExpression)
-          valuesLength = ((PySequenceExpression)assignedValue).getElements().length;
-        else if (assignedValue instanceof PyDictLiteralExpression)
-          valuesLength = ((PyDictLiteralExpression)assignedValue).getElements().length;
 
         boolean containsStarExpression = false;
         VirtualFile virtualFile = node.getContainingFile().getVirtualFile();
@@ -71,9 +65,9 @@ public class PyTupleAssignmentBalanceInspection extends PyInspection {
 
         int targetsLength = elements.length;
         if (targetsLength > valuesLength) {
-          registerProblem(node.getAssignedValue(), "Need more values to unpack");
+          registerProblem(assignedValue, "Need more values to unpack");
         } else if (!containsStarExpression && targetsLength < valuesLength) {
-          registerProblem(node.getAssignedValue(), "Too many values to unpack");
+          registerProblem(assignedValue, "Too many values to unpack");
         }
       }
     }
diff --git a/python/src/com/jetbrains/python/psi/PyUtil.java b/python/src/com/jetbrains/python/psi/PyUtil.java
index 7595b935b5b2..c4f962d39c11 100644
--- a/python/src/com/jetbrains/python/psi/PyUtil.java
+++ b/python/src/com/jetbrains/python/psi/PyUtil.java
@@ -38,6 +38,7 @@ import com.jetbrains.python.PyTokenTypes;
 import com.jetbrains.python.documentation.EpydocUtil;
 import com.jetbrains.python.psi.impl.PyBuiltinCache;
 import com.jetbrains.python.psi.types.PyClassType;
+import com.jetbrains.python.psi.types.PyTupleType;
 import com.jetbrains.python.psi.types.PyType;
 import com.jetbrains.python.psi.types.TypeEvalContext;
 import com.jetbrains.python.refactoring.classes.extractSuperclass.PyExtractSuperclassHelper;
@@ -1044,5 +1045,24 @@ public class PyUtil {
     }
     return (PyFile)psi;
   }
+
+  /**
+   * counts elements in iterable
+   * @param expression to count containing elements (iterable)
+   * @return element count
+   */
+  public static int getElementsCount(PyExpression expression, TypeEvalContext evalContext) {
+    int valuesLength = 1;
+    PyType type = expression.getType(evalContext);
+    if (type instanceof PyTupleType)
+      valuesLength = ((PyTupleType)type).getElementCount();
+    if (expression instanceof PySequenceExpression)
+      valuesLength = ((PySequenceExpression)expression).getElements().length;
+    else if (expression instanceof PyDictLiteralExpression)
+      valuesLength = ((PyDictLiteralExpression)expression).getElements().length;
+    else if (expression instanceof PyStringLiteralExpression)
+      valuesLength = ((PyStringLiteralExpression)expression).getStringValue().length();
+    return valuesLength;
+  }
 }
 
diff --git a/python/testData/inspections/PyTupleAssignmentBalanceInspection3/test.py b/python/testData/inspections/PyTupleAssignmentBalanceInspection3/test.py
index 7113ee884c6f..64a709385a1e 100644
--- a/python/testData/inspections/PyTupleAssignmentBalanceInspection3/test.py
+++ b/python/testData/inspections/PyTupleAssignmentBalanceInspection3/test.py
@@ -10,6 +10,6 @@ a, b = <warning descr="Too many values to unpack">c</warning>
 
 #PY-4358
 a, b = <warning descr="Too many values to unpack">[1, 2, 3]</warning>
-a, b = <warning descr="Need more values to unpack">'str'</warning>
+a, b = <warning descr="Too many values to unpack">'str'</warning>
 a, b = <warning descr="Too many values to unpack">{1, 2, 3}</warning>
 a, b = <warning descr="Too many values to unpack">{1:2, 2: 3, 3:4}</warning>
\ No newline at end of file