this is an update to my continued analysis on NKLA. i use elliot wave with fibonacci retracements and extensions to build a road map of where we could be going. i show both bull and bear scenarios but i am leaning towards a bigger sell off of this asset.
i accidentally left out the indicators lol sorry.
The daily rsi saw overbought divergence. i would like to get oversold divergence before going long.
the daily MACD got a bearish cross to the downside a couple days ago and is down trending. very bearish short term
enjoy the video and please make sure you are using your stop loss with an exit strategy people.take the small loss and live to fight another day
thank you for your valuable time
Rigo
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I'll be doing an update on this very soon
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It's time to buy but leave some ammo for the $14 level aka the 95% fibonacci retracement level
Great unbiased analysis like the others thanks for the good work rigorocks!
Sekytwo2014
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Incredible analysis brother.
insigniausa
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This is one of the most expressive analysis I have come across so far. Thanks!
rigorocks
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@insigniausa, glad to see my hard work is appreciated.it takes a lot longer than 20mins to do one of these videos.i do the full analysis before I record