#StockIdeas: #TSLA update... could target $160 with Fibonacci chart


Updated December 18, 2013 ● 821 views
TSLA chart hourly with Fib Retracements + Extensions

TSLA is ripping it today after it broke $145 resistance yesterday. This could hit the next Fib target above $160 area in next few days. Also notice the bullish cup and handle pattern. Daily chart shows $155 area could be first target.

This is the best swing trader chart. Right on the money of the Fibonacci retracements!

The pullback from 61.8% ($151.8) today could mean re-testing the $145 level next week. If that holds well and started to go higher and past 61.8%, $162 should be in the bag.

Have a good weekend!

 

DISCLOSURE: Bought calls yesterday. JAN10 150c and 155c

UPDATE 12/17: Closed all calls at $154 for 60% profit. Though $162 is target.. $154 is a heavy resistance line of uptrend channel which could pullback. It's best to take profits. Bought small puts for pullback to 50% Fib line.

UPDATE 12/18: Just like the chart prediction, pullback to 50%, trading at $147 now. Sold puts for 45% profit. No position.

 

Alert posted on TSLA: 

Also Read:


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6 Comments

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2

Posted on stocktwits. Sold all calls yesterday when resistance is met.

admin · 8 years ago
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1

Beautiful technicals... next week will be a lot more interesting.

David · 8 years ago
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0

@David: Hi David, looking for good book to learn fibs trading, any suggetions plesase?

azbaliga · 8 years ago
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0

@azbaliga: let me find the pdf book I downloaded in my iPad few years back...

David · 8 years ago
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0

@David: how do I follow you on stocktwits?

azbaliga · 8 years ago
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0

@azbaliga: this is me.... http://stocktwits.com/roceller

David · 8 years ago
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