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Why I shorted NKLA

  • Writer: Sai Vikram Kolasani
    Sai Vikram Kolasani
  • Sep 28, 2020
  • 1 min read

Hi guys, in this post I will be talking about why I shorted NKLA on 9/22/20.



As you can see by the lines that I have drawn on the graph above, I have identified a double top pattern in the trend of the graph. This immediately signaled me to take a position in shorting the stock. Furthermore, the 52-week low range for NKLA at the time was 10$. This gave me hope that if a decline does happen the stock may tank after being pushed up by a lot the previous day.

 
 
 

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