Thread by @malteseinvest

Analysis: #NASDAQ $WKHS

Case 364 #Workhorse Group Inc. - Revisited

Special Request: @AliTheTrader1

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#WKHS 1/4

Chart 1
Daily Chart: The June 23rd analysis targets were easily met as price rose over 661% in the month of June (from close to close). #Parabolic moves are violent during a correction and normally target the #Fib. 0.50 and even .....

WKHS 2/4

..... lower down. Price closed strongly above both the Dec. 2010 and Mar. 2016 #trendline resistances but failed to close above the first synthetic #resistance at 22.88.

WKHS 3/4

Chart 2
4 Hour Chart: The major #support zone is 13.67 - 8.98 and there's no guarantee that it will be hit as price could travel further parabolically. We await a steep correction and will not chase the price higher.

The #Strategy is printed on the image.

$WKHS 4/4