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.
