Been watching this one recently.. and it appears we may have formed a bottom. A bearish crab (micropattern) just completed at the bottom of what appears to be a bearish shark (macro pattern). There also seem to be overlay shark patterns.. so the price pump potential could be very nice here. This is a very early call- but lets see if NKLA can rebirth itself. If the patterns hold true there will be fireworks. The only thing I could say is get in early and hold on. These patterns tend to be very subtle and then skyrocket with very little warning.If price continues downward- well.. there is always tomm. I entered in around 11.74. The target shown here is a very low intermediate level. The ultimate target is well above into the 30 dollar range.
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Silver prices and equities shot up across the board- not good for this one. Looks like we go a bit lower.. but wouldnt rule out the bottom being near the area. Patience.
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Some good consolidation at 10.65 area... looks like there may have been a micro bearish pattern to breakup the charts- early advance up..but the pattern could bring us back to 11.85 region to resume that upside call- if pricing action holds at 10.55-10.65
Trade closed manually:
Busted- move downside.
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Consolidation may take place this week- will continue to monitor.
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Better support at 10:26... if reversal in the am this may bring new life...
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NKLA is extremely oversold.. we often see this when stocks are getting ready to moon- shakes out the weaker hands. I am going to create a new chart.. because there is something brewing here.
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Looks like we are back boys!!!
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NKLA been holding well past couple days at 12:40 mark.. barcoding and this is also showing the presence of a bullish shark pattern- hopefully to bring much higher prices in the 14.00 range to help solidify this long call.
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NKLA could sell off to complete the new harmonic around 10.61
Moorsc0de aka Crypt0nomics aka Zaphkiel