NKLA trade ideas
NIkolaDespite the hate and the negative news, I feel since this recent breakdown of a bear flag, this actually is signaling a strong move upwards. We had a fake breakout of the massive pattern, red Td9 flash and bear flag breakdown, but perfect support on long term trendline with a strong bounce is showing me we are in fact going to be heading upward of 78$ over the course of the next few months.
A SLOW CLIMB? NKLAHi traders, pls like and follow is this analysis is useful to you.
Nikola stock fell almost 27% on Monday after GM said it would supply Nikola fuel-cell components. That’s different than an agreement struck in September that would have included GM taking an equity stake in Nikola.
The graph shows us prices continuously bouncing around the $ 18.00 level.
The hope is that a minimum level has been reached such that prices can begin a slow climb towards the $ 35 level.
The volatility now seems to have reduced to a minimum and the path appears quite slow.
Any drop below $ 17 could push prices to new lows changing our predictions.
Nikola - Back at $18 - Another Run Up?Just using TA this time around. Checking back in with $NKLA. We got a lot of backlash on our last Nikola position, but ended up with a +44% profit trade in under 10 days. (Check out or last Nikola Post on September 24th.) The stock was beat, oversold, flooded with bad news, and found some support around the $18 range. We're right back at the same levels today, so we're going to try and ride this one again. This is strictly a short term set up and we'll be using a trailing stop loss to secure gains.
Targets:
1. $26.30
2. $34.15
3. $42-45 range
Stop loss at $16.20
RR: 3.49
Gain of 44% if it hits our first target alone
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Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
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NKLA Full Detailed Video Analysis Updatedsorry ladies and gents ive been away for a while. Being a Dad is awesome but takes a ton of time and energy.
Enjoy the elliot wave and fibonacci retracements in this video and i hope this helps you in your own analysis of this asset
good luck and happy trading
Rigo
NKLA video updatethis is an update to my continued analysis on NKLA. i use elliot wave with fibonacci retracements and extensions to build a road map of where we could be going. i show both bull and bear scenarios but i am leaning towards a bigger sell off of this asset.
i accidentally left out the indicators lol sorry.
The daily rsi saw overbought divergence. i would like to get oversold divergence before going long.
the daily MACD got a bearish cross to the downside a couple days ago and is down trending. very bearish short term
enjoy the video and please make sure you are using your stop loss with an exit strategy people.take the small loss and live to fight another day
thank you for your valuable time
Rigo
NKLA trends lowerNow its pretty to point out that NKLA at the moment is stay way stock for share buyers. Today NKLA pumped maybe trying to short out novice investors by "buying the dip."
NEWS
-GM says it wont move forward with NKLA, which is a smart play as Trevor Milton is being investigated
-SPACS are rumor to be in a bubble and NKLA bubble poped from past FORD ceo interview
TA
-Well we are in a downtrend (no shit), so the pump today still goes along with the downtrend, with so much negativity I personally wont be buyer till $9, but support lines add up to 11.09-13.95, which may be the new trading range for a long period of time
-RSI is below 39.1, which according to bullish price action it would have to stay above
-MACD is flipping bullish, but news catalyist doesn't look so hot
Final Thoughts
I personally have no stake, not even a put. I would be a small buyer between 11.09-13.95, but I would wait till it dips under 11.09 creating "despair" in the market cycle, which could be absolute bottom. This range would last until theres a breakthrough or even sales that come in which would happen in 3-4 years. Again not a buyer here and wait for the final drop of probably Trevor dumping and hitting stop loses of swing traders and long term holders. Plus the EV market is tanking, so not a good buying opportunity.
Where NKLA stoppedI love to find examples of where my favorite technical level works. NASDAQ:NKLA is a great example of a stock respecting the 50% retracement level from its down move back in September.
I didn't play this move but my trade in NYSE:NIO is definitely benefitting from the crash this week in EV. If only we could have seen this coming! See my video below for why I did.
NKLA soon to deep below the bearish wedge support of $16.5.As it was expected, Nikola keeps moving to its ultimate destiny, of a penny stock.
The technicals couldn't look worse for it, is likely to break the support line around $16.5 and deep to the lower fib extension lines, likely to stop around $8 bucks, by then $16.5 will be a resistance, and it would take a great deal of shenanigans to take it through.
I tell you what I see, I see Nikola hitting 8 bucks before Jan, and then wandering around between $8 and $16.5 until it's next Earnings period in Feb just to deep lower from there. It is likely as well that it will sell way before the earnings date, so in mid Jan and beginning of Feb this thing should be on the move again.
Fake technology, fake products, fake CEO, fake deals, fake everything, this is a penny stock company.
Stock price heading to its real value ---- 2.34 USD384 M shares, 900 M USD - cash balance -------> 900 M / 384 M = 2.34 USD !
Nikola:
no sales
no strategic investor
no factory
no "material" prototype
So once the stock is below 2 USD, perhaps, you can consider to buy it.
Will Nikola fulfill its doom prophecy of going below 10 bucks?With so much happening against Nikola this year, some expected it to be already in the single digits, nevertheless the stock still trading around $35 bucks. However I think that after this coming December the speed in which the stock is falling could accelerate, as major stock holders will be able to sell at will its shares locked in contracts until then. So the first week of December should be revealing for Nikola, and I think it will move the stock to the bottom of this descending triangle, to retest the support, and eventually at some time in 2021, maybe deep below towards single digits.
The company is a total fiasco with no products to show but empty promises.
NKLAWish I would have noticed this one earlier. 20 sma crossing above the 50 sma on a huge down day with huge volume into support (middle of triangle). Love the chances of a reversal here. Will likely get long tomorrow if I'm able to get in below today's high of $23. Can ride this a long ways with a stop around $18 imo.
Worth $0.Cathie Wood was right, as she usually is. I would stay far away from this unless you're highly skilled at technicals and would play another dead cat bounce. No Position, never will.
$NKLA SWINGING PUTS INTO TOMORROWWatch my prior video for more details on this position as well! $NKLA
NKLA you have to love panic sellers to make moneyamazing to much fear once again big parabolic move if 20 18 level hold
All eyes on EVI am getting the feeling of electricity in the air before the storm in the Electric Vehicle market. I don't want folks to be caught sleeping as price action is starting to give signals. In this video I talk about how the news today on NASDAQ:NKLA created some delayed but interesting price action in NYSE:NIO and NASDAQ:TSLA that anyone trading EV stocks needs to be paying attention.
NIKOLA: FIRST SHORT THEN LONGNIKOLA is speculative for now first we need to understand that. In my analysis i see short opportunity till december 1 and could hit 18$ arround and then long for mediam term.
$NKLA FULL BREAKDOWN AND ANALYSIS Preparing for the Dec1 lockup pass,and the flot to change from 83.5M to 249.5M $NKLA
