Tesla Motors, Inc. (TSLA) Earnings Review and Cloud Analysis (8/7/13)

Tesla's stock is shifting to another gear after smashing its quarterly estimates.  Shares of the stock jumped 13% to $151.19 in after hours trading and has soared more than 300% year to date.  The auto maker reported net income of $26.3 million that easily  beat expectations for a loss of $18.9 million.  The company delivered EPS of 20 cents well ahead of forecasts for a loss of 19 cent per share.  Revenues also outpaced expectations, at $401.5 million, an indication that Elon Musk's growth plans are performing on schedule.

Looking at the chart, the cloud structure is extremely bullish with price, tenkan, kijun, & chikou are above the cloud with a bullish kumo future after the huge upmove this year. Since the stock price should open above it's all-time highs, it is necessary to look at fibonacci extensions for resistance levels.  The prominent level is the 50% extension at $158.25.  If prices sell off at the open, the natural support level is the previous all-time high of $145.73.

Ichimoku Trend Score: 10/10 

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