TSLA CLONING targets (daily)

27 maj 2013

I don't follow this stock but I wanted to publish this chart to show how CLONING can be used to predict future price targets wants the stock has broken it's old high. In early April TSLA broke out of the long term reference channel with a large gap and on high volume. I often use the FISHER (100) as a trend shift indicator on daily frames.You can see that the Fisher had signaled a trend shift last Nov. Now looking at this chart it's obvious that TSLA has gone too far to fast, but until we see a reversal candle set up and or a CLONE support violation TSLA will most likely continue upwards. If it clears CLONE 4 resistance next target is top of CLONE 5. Bottom of CLONE 4 is the near term support.... Fib. levels work very well along with CLONE boundaries.