NKLA's ride up on pennants continues. NKLA has shown us 3 pennants in the last 2 weeks. Great consolidation after pop ups. I was able to capitalize on the last consolidation on Thursday and I'm ready for the pop from today's consolidation.
We got another setup from today's consolidation. NKLA is ready to move if Nasdaq gets momentum early next week.
Target is 50.86 based on a Fib 138% move
We got another setup from today's consolidation. NKLA is ready to move if Nasdaq gets momentum early next week.
Target is 50.86 based on a Fib 138% move
Note
As indicated by SweetspotTrading there's also a bearish scenario in play due to wave extension completion. The target for that scenario would be 43 at the 61.8 retracement.Trade closed: stop reached
NKLA is out of steam after wave completion and turned bearish as guessed correctly by @sweetspottrading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.