Nikola Corporation
Long

ABC Bullish

217
Gaps overhead may be tough so Beware. Price has to get through gap to reach targets
I think if it can get over 28.05, NV will kick
Safe long entry if an uptrend is in place. Well as safe as it can be anyway in the market.
There is not telling what will happen day to day so be safe

Short is high on this one
A lot of volume at 15-17ish
No rising wedges in this chart. Possibly an arc after IPO debut causing a drastic fall
Plus bad news did not help. This one fell almost the entire arc pattern but seems to be resting now in but do not think it will be in peace.
Expecting volatility for sure
Possible stop under 15

Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. Parabolic Arc patterns are rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages

Go with your gut on this one. It may be a struggle

Not a recommendation

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