Shares of Workhorse Group (WKHS) have been in free-fall over the last month after topping out above $30.00. The electric car battery maker was hot running from a June 2020 low below $2.50. Any stock that runs from $2.50 to over $30.00 will have to work off a lot of the overbought action. This is what is happening as Workhorse Group falls back to below $17.00. The Workhorse Group stock chart is approaching key support at $14.50. This is a good investor swing trade level. Swing trades are near-term plays. Investors usually hold them for days or weeks, then dump after the pop. The Workhorse Group stock chart signals this type of trade at $14.50. A bounce back to $20.00 is likely. After that, expect further downside to its major buy target of $9.90. This level represents a longer-term hold for the bulls on the stock. Workhorse Group stock chart offers attractive volatility and upside in the future. However, buying at the right levels is insanely important as ‘entry is everything’ when it comes to swing trading and investing.
Workhorse Group Stock Chart see below with key levels…
(Click on image to enlarge)
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