NKLA 2/21/2022
NKLA
I wonder how many bag holders are still holding on to dear life to this thing hoping it returns to its highs.
NKLA was a Covid champion.
Price soared from 11.00 to 92.00 between April 2020 thru June 2020.
Since then, it’s been blood tears for the bag holders.
Price came crashing back to 30.00 by Aug 2020.
It moved sideways for another month before breaking down late Sept. 2020
By November 2020, price pulled back to support at 30.00 and turned it into resistance.
A death cross occurred during that time further confirming the bearish market.
Price then entered a downtrend.
The initial downtrend had pullback rejecting the 200ema, but the downtrend seems to be intensifying.
Currently, the price has pulled back to the 50ema in from of a bear flag.
The price is also rejecting the 0.382 fib level. This will be my que to enter trade.
Entering trade short
Entry: 7.97
Stop loss: 9.11
Target: 6.67 – 16.31% RR ratio 1.14
I wonder how many bag holders are still holding on to dear life to this thing hoping it returns to its highs.
NKLA was a Covid champion.
Price soared from 11.00 to 92.00 between April 2020 thru June 2020.
Since then, it’s been blood tears for the bag holders.
Price came crashing back to 30.00 by Aug 2020.
It moved sideways for another month before breaking down late Sept. 2020
By November 2020, price pulled back to support at 30.00 and turned it into resistance.
A death cross occurred during that time further confirming the bearish market.
Price then entered a downtrend.
The initial downtrend had pullback rejecting the 200ema, but the downtrend seems to be intensifying.
Currently, the price has pulled back to the 50ema in from of a bear flag.
The price is also rejecting the 0.382 fib level. This will be my que to enter trade.
Entering trade short
Entry: 7.97
Stop loss: 9.11
Target: 6.67 – 16.31% RR ratio 1.14
Trade fechado: objetivo atingido
Exit: 6.67 – +16.31% RR ratio 1.14
Aviso legal
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