Where does this NKLA run stop?
Nikola has been on fire since announcing that the assembly line has started building trucks (200-500 trucks expected this year) while still working on phase 2 of building the plant. The stock price had been consolidating between 6.50 and 8.50, but with favorable market conditions NKLA ran all the way to 11.50 today at one point. I don't expect the price to keep climbing though, many rallies have stalled in the 11.50-12 range in the past year and i expect that resistance level to hold. Assuming that resistance level holds i'll be looking for a pullback to 9 (ideally) or 9.70 to add more shares before a next leg up which could be all the way up to 15 which would complete a stretched out inverse h&s pattern. While the inverse h&s pattern may not play out i still believe that 9s will be a good place to add shares if a pullback happens. Fundamentally NKLA has turned a corner and i believe the stock price is going to reflect that change in the coming year. GLTA
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