NKLA - Breakout of Downtrend ?NKLA is looking like at least a Correction is around the corner. On 4h TF the small Downtrend is broken and a test of 30$ should be on the table.
4NKLA trade ideas
$NKLA Nikola Potential Trade setup on Break above the 20MA
Stock has held horizontal support after breaking the downtrend.
The 20ma is most obvious resistance now.
Volatile stock so care needed.
Bullish divergence on RSI
NKLA (double bottom with a descending wedge pattern) Reversal pattern with a volatile stock. It could be really good to have although its not a blue chip.
The Ol' Wyckoff AccumulationHere is something to keep in mind. The probability of this happening is just as good as any other TA. I wouldn't be suprised if earnings for NKLA drops the price to the Support around 16. Enjoy!
$NKLA has earnings monday. What to expect!Asking ourselves "what value could NKLA bring to the ER" the answer is probably nothing substantial. The expextaions are low, so if they have made any improvements over the last few months perhaps we could see a break past resistance, BUT i doubt that. We are up against a major resistance and the only thing I believe that could save it is a the announcement of the GM deal. The chart is set up for some serious downside and ill be signaling in my chatroom. This could present the perfect straddle opportunity.
Zero revenues and a lot of fishy stuff going onCurrently at $7 billion valuation but with zero revenues. Going below $4 soon imo
Bear Flag in NKLAPossible opportunity to get short NKLA as it builds a bear flag. Showing weakness as it continues to fail at the 10 and 20-day EMAs.
Nikola ("Of all things, I liked books best.")View On Nikola (21 Sept 2020)
Nikola is in the strong downtrend and it is about the touch some serious trend line.
So, I expect it can fall further but please be cautious too. Why? It is near "normal" up trend line.
A very good support level for this counter is $15-$20 region.
Let's see..
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NKLA - A higher probabiity to move up Here's a probable wave count suggesting a move higher for NKLA.
Wave 1 and Wave 2 complete, are we going to take off on Wave 3 ?!
EWTA
nkla bullish countNikola was impulsing in 5 waves so after this correction ends i would expect to impulse at least one more time. Cheers!
NKLA LONGI was a bit too bullish on my last NKLA idea. I pasted the link to that idea below.
Here is the new start fresh bull plan.
watch it as it follows this channel and wait for confirmation that it has left the channel.
I will also be watching so if you follow this post I will notify you.
As always I look forward to your comments for or against my ideas.
NIKOLA technical analysis The bubble has burst in NIKOLA. The company is in a clear down trend and have a high change of bankruptcy by the year end. I will short this stock and target initial 0.618 fib.
r.i.p. Nikolatextbook bearish pennant, not looking good
could bounce short term but based on fundamentals, it won't be much
NKLA beginning ABC retracement, target 17Not the best looking chart, had a horizontal leading diagonal for a while with no clear elliott count, but very decisive break to the downside this morning. Looking for a retest of the low around 17. Copyright Rohan Karunaratne 2020
NKLA 10/12 Ascending TriangleAscending triangle:
retest the resistance (upper green line
If we dont break, head back down and hit a higher low (lower green line)
Retest Resistance and hopefully this time break through shoot towards the $28 range (dark red line)
NKLA lotto trade idea 💡It's a very short term and high risk trade!
Contract could go to zero!
23rd Oct calls $25
Simple breakout game!
Hugh risk, high gain too ⚠️
