nmike
Long

GOOG next long term CLONE target

NASDAQ:GOOG   Alphabet Inc (Google) Class C
745 2 18
The last 2 Goggle clone predictions worked out nicely: This time I have drawn 2 sets of horizontal clones on a monthly chart, one clone of a major high/low swing point and a set of clones of a smaller reference channel. Normally I draw a 50 % reference line in all channels. When clones are large in height it’s a good idea to draw Fibonacci retracements rather then having a single 50% reference line. Fibonacci retracements serve as general targets & support / resistance within a clone. Clone boundaries CONFLUENCE gives more validity to a predicted target. As you can see on this chart the next target is close to a dual clone confluence around 1250-1270. Goog             is currently overbought so it could correct to the .382 Fib. level. Cloning should be used along with other technical methods.
oh too bad,,,,this analysis was working out nicely until the stock split,I'll have to draw up another chart :(
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.........intermediate .764 Fib / Clone target hit
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