1 year and a have of long correction!i think we are ready to break down trend and flip to the upside.
NKLAQ trade ideas
NKLA rallying into next week but resistance is closeNKLA price action these past few weeks has been range bound between 9 and 11.50, It looks like that 11.50 range could be retested this week if this rally continues. A clean break above 11.50 this week and it could run to 13s. The volume the last two days has been impressive, very steady buying throughout the day if that volume holds or increases I think that 11.50 resistance falls and you could see 12 in a flash. It should be a nice week of price action coming up.
NKLA released a nice video of their New Ulm plant in Germany, it shows you the exact assembly line they'll be bringing to the Coolidge plant, very cool stuff. It seemed pretty crazy that NKLA would actually progress to this point of building the trucks but here we are. Now that they have the trucks it's time for NKLA to start getting these trucks out on the road. Once that Coolidge plant starts putting out trucks (should have a few trucks out this year and 100% ready for a full q1 production) this stock could really run.
NKLA Snapback/BounceNKLA has had 4 consecutive sell off days, with another big sell off after reporting earnings today. This has now sold off into support zone around the 10.20, while being overextened to the downside and oversold on stochastics. I believe this will have a relief bounce back to the 12 range. Also the Short Interest and Short Ratio are high on this stock, this could lead to a squeeze the same way it did back in April when it hit this level.
A breakout or a false breakout???NKLA broke above 10 today, generally that's bullish but a decent amount of the rally got faded today, that being said nkla still held over 10 which is good news for bulls, failure to crack 10 today could've easily turned bearish. I'm gonna go out on a limb here and say this is could a great price point to add some share of nkla, this stock has had a lot of ups and downs, mostly downs, but i don't think this can go much lower. NKLA was dead in the water until 9.30s then some institution put the bottom in around there. Now NKLA has rallied past 10, if this rallies hard later into this week we could see some rapid price movement. Obviously nothing in certain, tell me where i'm wrong in the comments below!
NKLA Strong BuyCeiling Trend seemingly leveled off = Potential Pivot
+
Ultimate Floor Trend Holding Support
+
Four Positive Surprise Earnings Reports following Initial Earnings Report
+
Increased Volume (seemingly institutional
=
Strong Buy
-->
Sell Limit before Battleground (50% of shares)
-->
Sell Limit before $30 (remaining shares)
NKLA forming support?NKLA is looking like it might be forming a support area at the 9 range, several nice bounces off this number in this past week. It appears that Milton has been dumping plenty of shares to cover his 100 million dollar bound he had to pay to avoid jailtime, for now anyways. In the short term Milton dumping these shares is obviously bearish as he as a alot of shares still. However in the long term this seems bullish as Milton was going to sell shares anyways. I'm looking for this 9 bounce closely, a retest of 10 looks like it will happen tomorrow, this stock is setting up for an interesting week.
NKLA - Ultra Deep Value Target 🧐NKLA in capitulation down another 9% today looking very bearish.
Increased selling pressure from previous sell off suggests price is in a wave 3 of 5 currently.
If 3 then wave 5 may bounce around the 2.618 $5.5.
...
But price could also be in the extended C wave of an ABC.
If C then price may bounce around the 1.618 $8.
...
3 previous pivots back to January make a 1:1 ABC extension to $6.
So good chance price will get to this area.
...
Since the top price has tumbled through many 1:1s tagging both the upper and lower median lines of the pitchfork. RED
So who knows maybe its going to tag LML one more time.
...
I will be buying in this $8 - $5.5 area if price allows.
...
Now just to watch and see if price passes A.
Not advice
NIKOLA: NKLA Can Be A Good Buy NowTraders, Nikola price has been it badly but it has reached a level where it can be a good buy on the completion of a good FCP pattern. Beware of the fact that this pattern can become extended to the downside. Hence we have to possible BUY zones
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
NKLA bleeding continues into next weekWell its been a couple of weeks since i've checked in and wowza we've had some crazy news and price action. It was looking like NKLA was going to enter into consolidation zone between 13.50 and 15 but then the sec charges against trevor milton were announced. While these charges may come as a surprise to some, i'm more surprised that it took this long to charge him. There's a laundry list of things milton did wrong and now he'll have to answer for those actions. On the bright side this news could finally put milton in the rear view mirror for this company, however it probably won't as we still don't know what's going to happen to trevors shares now that he's been formally charged (i hope all the shares are just returned back to nkla, wishful thinking on my part). Now putting the news aside for a minute, the chart is looking bearish still with the double top and h&s pattern playing out. It's hard to imagine this stock not going back to $10 and retesting that level. The real question is going to be if it does hit $10 will nkla bounce there or continue selling off?
