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.
Comments
QuantitativeExhaustion
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Good signal to get out here and buy some puts
nmike
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......TSLA cloning update
nmike
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BA, cloning example
QuantitativeExhaustion
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You have had a few cases where price briefly breaches the clone resistance within a daily chart and quickly reversed.
This may be the case later this week. Will not know until I see the overall market reaction later this week. IF SPX break 1674 for a daily close than I will agree with a move higher in Tesla.
Interested in seeing what you have charted in the SPX.
nmike
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the FISHER (100) also works quite well on weekly frames
foreversong
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Hi Mike
what is the FISHER (100) what we looking in term of FISHER. do you have any guide how to use FISHER charting, because i check few stock chart site does not offer FISHER charts
nmike
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@foreversong, Fisher a is relatively new indicator so some charting software do not have the Fisher.I will publish some guidelines when I have a chance specifically on how to use the dual Fisher 34/100. Here is one basic way, if the Fisher 100 is below mid any rises in the Fisher 34 is a shorting opportunity
InnovaThorr
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Hi nmike. How do you define height/length of a single clone? Fibs?
nmike
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hello......@InnovaThorr I just look at major pivot points for heights the length doesn't matter but you extended them to the right as needed, basic idea on CLONING above these comments.Not a perfect science but a great addition to other analysis
Good signal to get out here and buy some puts