Where are we going this week

Updated

The price action on NKLA has been generally down for this month since the massive breakout. I expect the decline to continue even more here as NKLA has a gap to potentionally fill around 15.80. If that gap fills this week i'll be looking for a bounce up to the 17.20 area. ideally that gap fills on monday or tuesday and i can enter some weekly 17c and play the bounce after the gap fill. However if the gap fills and the selling continues i'll be looking to sell calls against my shares, we could easily fill the gap and test 15.40 and 15 pretty quickly. I expect a volatile week in price action in either direction, this stock has been a great one to swing lately so trade swiftly and stick to your plan.

Note

gap filled down yesterday and today nkla has retraced back to that 17.20 resistance i mentioned, a break above 17.20 and this could run, failure to break and i may sell some calls against my shares here

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i highly doubt anyone followed my weekly 17 calls but if you did, today would be a very nice day to sell some

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NKLA respecting the levels once again, 18.60 acting as resistance i'm not sure it breaks through that level this week but we shall see.

Grant555

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NKLA has been on fire lately, will it continue?

by Grant555

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