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NIKOLA CORP

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4NKLA trade ideas

Nikola Corp. NKLA - The bear is finally going into hibernationWe might have seen the worst of the bear market for NKLA. The strong downside movement is part of a long term correction wich in the Elliott Waves Theory coincides with the ABC pattern. Wave C is almost complete and is forming a wedge pattern with its wave 5 < wave C. That means that the following movement should be a new impulse which could start with the breakout of the wedge. In this scenario we implement the following strategy: - Entry point: the breakout of the wedge; - TP: $ 1.70; $ 1.98; - SL: $ 0.62 It should be reached in very short term once the pattern is complete. We suggest to operate with trailing SL and TP in order to take advantage of potential stronger upside movement.
NASDAQ:NKLALong
by MDP_LV
1
NKLA gets some momentum LONGNKLA had a nice long test run of one of its trucks in California this month. It signed a deal for a 10-year hydrogen refueling. Not a big deal, but may be the first company to sell fuel along with its vehicles and get government subsidies along the way. The days of doing photo shoots of a prototype truck rolling downhill are clearly in the past. While alwys speculative, NKLA is getting more search hits on Bezinga and Zacks suggesting there is trader interest and maybe even some investors. On the 120 minute chart, NKLA has ascended about 25% in the past week. It is approaching the intermediate and longer-term anchored mean VWAP lines in black. It is there that volalility and volume are expected to be the highest. This is 0.84 to 0.89. In this zone, institutional traders may take or exit positions. The upper end of the high volume area is at 0.90. I will take a trade here expecting price to go about 13% higher to 0.88. There it will either continue the VWAP band breakout or be rejected from that resistance level. The RSI and MACD indicators show bullish momentum to validate the long trade idea. An additional factor is whether a short squeeze could ensue. In the near term from now until March, the put to call ratio is 0.05 to 0.25 making for very few near-term put options. However, in the April monthly the overall put-to-call ratio is 3.5. This suggests an expectation of a good rise rise in the next 1-2 months and then a correction or breakdown at 3 months. In July the ratio falls to 0.05 at least for the time being. If a short squeeze does get set up, put positions in April will be liquidated in short order and the buying of call options to cover those puts may accelerate the trend up. Overall, my target is 0.88 while the stop loss is 0.73 under the evolving POC line of the volume profile. Since my call options printed a 60% profit for the day, I will add to the position to capture more of the expected move. ( $1.00 Strike 2/9 expiration currently $2.00 per contract- no stop loss total loss vs expected gain 250%+)
NASDAQ:NKLALong
by AwesomeAvani
Nikola (NASDAQ:NKLA) Posing Signs of a Bearish TrendInvestors are punishing Nikola (NASDAQ:NKLA) today, plunging the stock below $1 per share. A company announcement has investors losing confidence in the electric heavy-truck maker's chances for survival. The stock plummeted 23.5% in early trading before settling in with a decline of 17.6% as of 10:40 a.m. ET. The drop is due to Nikola's latest announcement that it is seeking to raise more money through new offerings of both common stock and convertible senior notes. The company expects to raise $100 million through the stock sale and another $200 million from the sale of convertible bonds. Technical Analysis The 50-day moving average is acting as a resistance level, as NKLA has failed to break above it several times in the past few months. The 200-day moving average is also sloping downward, suggesting a long-term downtrend. The 50-day Moving Average crosses the 200-day moving average moving beneath the 200 & 100- day moving averages respectively posing signs of a Bearish movement on Nikola Stock. Based on these indicators, NKLA is showing a bearish trend with some bullish momentum.
NASDAQ:NKLAShort
by DEXWireNews
NKLA Update - 4 Hr Chart BullishPrice action is showing signs of consolidation, but still bullish. Price is expected to rush to 2.24, but I think it is going to trade sideways for a period of time. In the event of bad news there is the chance price goes to 76-78 cents as an extreme bottom. Until then I think price has shown support at 1.34 mark and trades sideways before rushing upwards to the 2.24 target and then we can explore additional action. In the event we break 1.34 to 1.27 and go downside then the 76-78 cents may become a reality. However due to the major harmonic to the far left- it is a bullish formation which is why I tend to think this also support bullish movement over time. So lets observe price holding in the green parallel trend and then following upwards in the orange parallel trend. Consequently these are the exact same intermediate harmonics BTC is showing on the hourly- very strange, but BTC has already shown its breakout. Lets see if NKLA can do the same.
NASDAQ:NKLALong
by Moorsc0de
4
NKLA - 2 Different Long-Term WavecountsWe have 2 different primary counts on NKLA. The first would have us assume that the recent downturn from $3.71 to $0.81 was all the downside we'll see. However, the structure for this move leaves no obvious evidence that it was the complete correction. Hence why I left a (2)? at the base of that move. If this is a full complete correction, 0.81 cents was the low, we'll never see lower. The second wave count, has as assume that move first move down was merely leg A in a multi-month A-B-C correction, which would end in us seeing lows lower then $0.81, potentially even as low as $0.65. Please note, I am truly unsure of which scenario could play out. Especially since institutions have been LOADING UP on NKLA over the past month. Both Wave Counts Have The Same Next Move Whether the first or second wave count, both have their next moves being set on the blue-line you see on-chart. With a swift move to test the $1.60-$1.70 range, followed by a pullback only to see $2+. Comment if you have any questions or simply to appreciate my work :) TL;DR 2 Different scenarios, both have the bluelines as likely to happen in the near-term, one has the redline to happen after. ALSO: Please note we have bullish divergences on 6 different indicators on the daily chart. VERY likely we bottom here.
NASDAQ:NKLALong
by ThePennyMan
NKLA: Possible reaching $4.3 (+390%)My reading is: 1- Primary: it could be started the 3rd/ or C of Elliott wave 2- Seems it finished the wave 2 (correction) Forecasting : Conservatively: it may go to the upper bound of the channel $4.3(390%) Unconservative: I will update when it break the upper channel Confirmation of upward is breaking $1.43 The information is not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendation.
NASDAQ:NKLALong
by KhaledDoge
4
NKLA updateWell this is the updated chart. A few changes. The previous patterns played out and were removed, this is the new one. This is a minor crab pattern and per the previous chart the price points matched up perfectly (see notes). These patterns are notorious for the false breakdowns and long dips at the C wave (as seen here). The previous target is blue arrow, the new intermediate target is green arrow. This 2.24 mark (when reached) is going to retrace, but not sure exactly how far. I think it will be minimal and carry up to 2.70 region, but I wont get ahead of myself just yet. The blue original target is in play, if this plays out as expected.. but time will tell. Much of what I am basing this extended run on is the Gann lines.
NASDAQ:NKLALong
by Moorsc0de
7
Short NKLA for obvious reasonsI'm making this post in retrospect, I'm shorting NKLA from 7.2. As a chemist, I can guarantee you that they will fail in their intent, and cannot deliver things that are impossible. Even if they stretch themselves to deliver, the product will be a worthless piece of sh1t. This could still drive the stock up, because degenerate "investors" could pump it up short term based on news, but the inevitable future of this company is just failure. I intend to short it until it fails completely. My leveraged position is structured of a regular 1:1 leverage and 5x leverage (my personal risk tolerance). Don't be a complete degenerate, and calculate your personal risk tolerance. Also, don't put more than 10% of your portfolio on risky bets that could explode when cult followers make retarded moves. Nobody can survive that, no matter how right they are. But in the end, I'm right.
NASDAQ:NKLAShort
by josip
17
NKLA new chart- lower targetThis chart is to update the original. The pullback should have been accounted for, but it pulled back (red box)... and so this chart show those harmonics and the resulting new target 2.38. I was originally hopeful for 2.83 target, but I also put a new Gann line on this and there is a big resistance point at 2.38- we also have to consider the macro patter that bought us down in the first place it is providing resistance as well AND the preceding intermediate harmonic also is holding us back. So profit target 2.38, unless something new develops.
NASDAQ:NKLALong
by Moorsc0de
3
NKLA- intermediate pushNKLA showing some signs of support arund 2.22 point. The harmonic here seems to be associated with a bullish pattern at least to the 50% fib of the macro harmonic. This has a price point around 2.85- the bottom of the IM Cloud. NKLA had some bad news come out recently of CEP change, but there may be some small pushes up to test the direction of things. The CEO that stepped down is going to remain as advisor thru Sept I think.. so price action may remain healthy. Will re-explore at end of Sept. This push should be a quick one.
NASDAQ:NKLALong
by Moorsc0de
9
$NKLA Hindenburged Short SqueezeAfter there was a glimmer of hope that it would escape bankruptcy thanks to the high demand for its new FCEV truck, Nikola Corporation (Nasdaq: NKLA) finds itself in a highly precarious situation once again after Proterra Inc. (NASDAQ: PTRA) declared bankruptcy. As PTRA is the sole battery supplier for the company’s FCEV truck, NKLA may find it hard to fulfill the orders it received for its new truck. Considering the company’s financial struggles, the possibility of bankruptcy is once again high which makes NKLA stock a potentially profitable short play. NKLA Fundamentals With the company pivoting to hydrogen energy, NKLA entered into a long-term strategic partnership with PTRA to supply it with batteries for its Tre BEV and Tre FCEV trucks. The company started producing the Tre FCEV truck on July 31st amid optimism that it would save the company thanks to the high demand it is witnessing. This demand was shown with the company sharing that it received 202 orders for the new truck. However, in an unfortunate turn of events, PTRA filed for chapter 11 on August 7th – only 1 week following the start of production of the FCEV truck. In this way, NKLA may be unable to fulfill the orders for its truck which will severely impact the company’s long-term prospects given its dire need for cash to continue operating. The results of PTRA’s bankruptcy are catastrophic for NKLA and its shareholders since the company would have to resort to dilution to raise capital which may increase the company’s outstanding shares significantly since its shareholders approved the proposal to raise the authorized shares from 800 million to 1.6 billion. Based on this, shorting NKLA stock may prove to be a profitable decision given that its options now are either bankruptcy to restructure its business or mass diluting its stock which will impact the share price negatively. NKLA Financials One of the most alarming figures in NKLA’s financials is its cost of revenue which is $24.9 million according to its Q2 2023. This figure is alarming because during this time the company only realized around $15.3 million in revenue. This discrepancy between revenues and cost of revenues resulted in a gross loss of $27.6 million and a jaw-dropping gross margin of -179%. This imbalance has drastically strained the company’s assets as its total assets decreased from $1.23 billion in Q4 2022 to $1.13 billion in Q2 2022 due to a sharp decrease in restricted cash and cash equivalents from $10 million to $600 thousand. This sharp plummet is likely a result of NKLA’s gross loss and current liabilities of $233.1 million sapping its cash balance. Despite this, the company has done a tremendous job decreasing its current liabilities from $383.5 million in Q 4 2022 due to declines in its accounts payable and accrued expenses, leading total liabilities to drop from $710.1 million to $614.7 million. At the same time, NKLA’s operating costs slightly improved YoY from $142.9 million to $140.9 million. However, the company’s net loss increased substantially YoY from $172.9 million to $217.9 million. Having said that, the company’s net loss would have been much higher if not for NKLA divesting its Iveco stake which provided it with $70 million. Technical Analysis NKLA stock was in a bullish trend as it was trading in an upward channel that it recently broke. Looking at the indicators, the stock is above the 200 MA which is a bullish indication, but below the 50 and 21 MAs which is a bearish indication. Meanwhile, the RSI is neutral at 36 and the MACD is approaching a bullish crossover. As for the fundamentals, NKLA may drop drastically in the near term following PTRA’s bankruptcy since it may not be able to fulfill the orders it received for its new FCEV truck given that PTRA was the sole battery supplier for the truck. In this way, it is very likely the company resorts to mass diluting its shares to raise the capital it needs since it may not generate enough capital from its operations. With the stock trading near its resistance, investors could wait for retests of the resistance and go short with take profits near $1.96, $1.32, and $1, while setting a stop loss near $2.3 if it breaks resistance. NKLA Forecast After PTRA declared bankruptcy, NKLA is in a tricky spot since the company intended to raise funds from the purchase orders it received for its FCEV truck and limit dilution. However, now that the company may not be able to fulfill these orders due to PTRA being the sole battery supplier for the FCEV truck, its chances of surviving its financial struggles appear to be slim to none. In light of this, investors could find it profitable to short NKLA stock given that the company may join PTRA in declaring bankruptcy or mass diluting its shares to raise capital which would negatively impact its share price.
NASDAQ:NKLA
by Penny_Stocks_Today