NKL2 trade ideas
NKLA - Maybe there's more...Scam?Hello Traders,
NKLA has been pinned down lately on the assumption that this company is not real, they don't have a single product, and that they are a total scam.
Well...there's a lot of those in the stock market.
We are NOT another NKLA shill...we simply trade the charts.
Let's take you guys back to early August when we entered our trade (3-6month swing trade expected). We first saw ahead of earnings that NKLA was holding its support at $28.70 level and got a bounce the next day.
Knowing that this is a hot stock regardless of the headlines, we noticed some buying volume and entered our trade around $33.30-$33.50 with shares at a 5:1 risk/reward with a target at just under $60/share.
This morning there was news that GM took 11% stake on NKLA and it took us back over to being up over 35% for the day. With NKLA closing above this level current level at $47.50 would put us right back on the bullish move. Higher low has been potentially established and this could rally higher.
We're not chasing this move at all...simply riding out our long swing trade.
If you do wish to enter long here. WAIT for a full candle close above the breakout level. Enter on a pullback to test this level before entering.
Good luck traders!
*NOT A FINANCIAL ADVICE, THIS IS JUST OUR PERSPECTIVE AND WE DO NOT RECOMMEND ANY TRADES WE PUBLISH ON OUR CHANNEL. YOU WILL LOSE MONEY.
$NKLA, risky buys only at the $35-$40 gap, $NKLANikola Corporation operates as an integrated zero emissions transportation systems provider. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. The company was founded in 2015 and is headquartered in Phoenix, Arizona.
Price will someday go back to fill the gap.
Summary
- NKLA shares soared over 100% on June 8 after the hydrogen vehicle maker went public through a reverse merger with VectoIQ.
- NKLA has no vehicle revenues and is not expecting revenues until 2021 at the earliest.
- Management seems doubtful of future liquidity amid optimism about expansion, commercialization and development of infrastructure.
- NKLA has boasted $14 billion in preorders, which is nearing its estimated peak annual production capacity.
- NKLA's market cap as of June 15 at $24.7 billion puts it just $1 billion below F
Nikola Stock Analysis - NKLANikola Stock Analysis - Nikola Corporation stock forecast today (week 07/09/20) - NKLA Stock Analysis - NASDAQ:NKLA
Electric cars Market seems to be in retracement stage, hence the best option is to hold and wait the end of the price set back before buying.
Technical analysis:
Based on technical analysis, the idea is to hold the end of the price retracement that could happen at level of 35 USD (Option 1) or level of 30 USD (Option 2). Both options are valid only if the prices will not break the price level of 35 or 30 USD and the closure price will be above the support level of 35 or 30 USD for at least 2 days in a row.
Option 1 - found based on a tentative trendline (35 USD)
Option 2 - found based on a previous support level of 30 USD
Fundamental News:
The biggest news of the month was the company's Aug. 10 announcement that trash hauler Republic Services had put in an order for 2,500 battery-electric garbage trucks, to be delivered in 2023. However, that's three years out, and with no other significant developments occurring, investors seem to have begun to get antsy and sold off the stock.
SHLL vs NKLAWho else is feeling the electricity (and CNG) in the air? Here's a quick comparison of the initial impulses up for SHLL and NKLA.
$NKLA down back to support level IMODescending triangle and low volume.
IMO this will be back to testing support soon..
... unless there is another pump to dump share in the likes of DB or JP Morgan!
NIKOLA CORP. buy signals on D1.Nikola, daily timeframe: Mirror level + Support line + Breakout of resistance line + Price holding on these levels
Taking a look at some trendlines, support, avg price indicationsSeeing as how we apparently did not get any Weekly chart follow through, I thought I would take a look at buying NKLA at lower prices. Found some trendlines, stacking with support levels and average price indicators, here is where I'd look for trying to buy low on NKLA.
Weekly NKLA breakdown?Interestingly low volume but hard to argue with Price closing below the prior Weeks candle and into the gap she goes. Watching...
