Anyone else see NKLA
Updated
Does this look healthy to anyone else? Just did a look through on their website. They are voting on a proposal to increase shares of their stock. Not sure if it is a split or what. They are calling it Proposal 2. Other than that, this looks like a bounce from bottom if I've ever seen one. Let me know your thoughts. https://www.nikolamotor.com/stockholder-meeting/
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I just came across this. I feel more comfortable shorting at the moment. There has been a lot of interesting stuff that I've found out about the company while reading into them. Nothing sounds great. If it spikes at all, it's most likely a short squeeze, or they acquired the funding the company actually needs. yahoo.com/?err=404&err_url=https://finance.yahoo.com/ne...ikola-152520252.htmlNote
this could be very bearish now. The MACD Histogram is turning bearish on the 4hr chart. Shooting stars on both the 1 hour and 4 hour closed candles.
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Good stuff Note
RSI is rising, +Di is rising, MACD histogram is changing, and we have a nice cup along a support line. Bullish again I'd say. My only worry is that the ADX line is decreasing during the rise of the +Di line. The strength of the trend could just be weak and not reversing. -Di is falling, so that is good. Could this be a squeeze? I think we need to break above, $1.12 to have signs of any bullishness. Note
Lordstown bankruptcy points to EV hype that didn't deliver.finance.yahoo.com/news/lordstown-bankruptcy-points-to-ev-hype-that-didnt-deliver-183537375.html
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"Nikola Motors has been one of the most heavily traded companies this month."I would ignore the last part about volume, since that is changing. invezz.com/news/2023/06/27/nikola-stock-price-forecast-extremely-vulnerable-ahead-of-july-5/
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Positive news as far as trading goes.finance.yahoo.com/news/nikola-nkla-flat-market-gains-220021888.html
Trade active
I'd call this bullishnessNote
needs more volumeNote
End of the day follow up. 15min. We are sitting just above resistance from the stocks first recent pump, Labeled 1. We are also sitting above the pullback of the recent pump, labeled 2. We are also sitting above our recent level of some support, labeled 3. -Di line is falling (Magenta), indicating a weakening of the bearish trend, but +Di for bullish is also having some trouble (Teal). However, the ADX line (White) is almost at 40 and has been rising slightly today with bullish price action. The RSI (Grey) is somewhat high at about 60 and seems to possibly be rounding down. The MACD histogram (Shading behind the ADX indicator) is turning bearish. Watching NKLA's price post market. There was a price spike up to $1.22 before heading back down to $1.16-$1.17. Could that be a sign of momentum? The RSI has been following the +Di line for the past couple candles. Looking at the 1 hour chart however, The ADX line could be rounding out at the bottom while the RSI and +Di lines rise. This will indicate a strengthening of a bullish trend if it continues.
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New Idea with Fib. levels:
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