NKLA Update - Signs of Maturity
Two main observations in this update worth noting.
1. The most important note in my mind is the bounce off of the trendline instead of $13.54.
In the last year, $13.54 has been an important level for NKLA, on several occasions it has served as a "launchpad" for violent increases.
Today, the trendline was very close to the launchpad.
Investors decided to COMMIT to the trend instead of BET on the horse. I believe that this officially means that Trevor Milton is out of focus and more recent, progressive PR is now in focus. This should also mean that a different kind of investor is walking through the door...someone who makes informed, strategic investments instead of betting on horses. This thought is further supported by my second observation.
2. Volume is down...Value is Up - more consistency, less violence...healthier growth.
This is not to say that NKLA wont have its 20% and 40% days, I do think we will see those soon as well.
The main idea of this update is that NKLA may have reversed the trend today.
1. The most important note in my mind is the bounce off of the trendline instead of $13.54.
In the last year, $13.54 has been an important level for NKLA, on several occasions it has served as a "launchpad" for violent increases.
Today, the trendline was very close to the launchpad.
Investors decided to COMMIT to the trend instead of BET on the horse. I believe that this officially means that Trevor Milton is out of focus and more recent, progressive PR is now in focus. This should also mean that a different kind of investor is walking through the door...someone who makes informed, strategic investments instead of betting on horses. This thought is further supported by my second observation.
2. Volume is down...Value is Up - more consistency, less violence...healthier growth.
This is not to say that NKLA wont have its 20% and 40% days, I do think we will see those soon as well.
The main idea of this update is that NKLA may have reversed the trend today.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.