bull flag low risk entry for fisker!


November 2020


Alex Cole

Happy Thanksgiving extra idea!
A lot of discussion surrounding the electric vehicle market is whether TSLA can hold on to its market share. Fisker, is a brand that is trying to eat into that EV pie.
Here is a classic bull flag as represented by the GoNoGo chart.
A "Go" trend is established, and we then saw a red short term counter trend correction arrow that alerted us to the consolidation against the trend. Today with the current bar, we seem to be breaking above that pattern and with it we see a green low risk entry circle.
Remember, the arrows and circles come from the GoNoGo Oscillators interaction with the zero line and therefore represent increasing and decreasing momentum. The green circle, in a "Go" trend, represents a relatively low risk entry point. You could use a measured move based on the move into the pattern as an initial target, around $24.