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NKLAQ trade ideas

NKLA is hyped, target at 26After deal with GM, NKLA had extreme move to the upside, but failed to sustain above resistance line set by previous high. NKLA probably will retest this high, but my call is down, as their fundamentals are weak. Their market cap is super overvalued, with limited working product. If NKLA can hold above resistance, maybe can begin and ABC corrective wave up, but I am still overall bearish. Target is at 26 for an entry incase resistance is not broken, potentially make a move from 26 to around 40 in an ABC corrective pattern. Still be cautious, super volatile. Copyright Rohan Karunaratne 2020
NASDAQ:NKLAShort
by UnknownUnicorn4017959
NKLA - Verge of a Breakout?NKLA is currently a HTB (Hard to Borrow) stock with short interest clocking a rate of about 40% currently. Especially after the shorter's report came out, most retail traders have been left with a sour taste in their mouths. But due to higher consolidation and some sketchy price action in after-hours and pre-market; a breakout appears to be imminent. First immediate resistance zone: $36.50 - $38.62 After this due to shorts either doubling down on their position or deciding to pull and cover, we could see a rather quick move all the way up to the $40 price range. Price point of invalidation is around $30 a share.
NASDAQ:NKLALong
by ericisom887
2
$NKLA fails to climb above $37 todayThe breakout from last week has all the looks of failed one. Failed breakouts often lead to sharp moves in the opposite direction. Given the Hindenburg report, expected reversal is not big news. For now the price keeps going further into the apex of the triangle which typically negates the pattern. Anyway, we need to get out of the $30-$37 range in order to consider the situation resolved. Today's recovery was impressive but not enough.
NASDAQ:NKLAShort
by georgi.danov
2
NKLA They sold the rumors... now what?On the 15 minute chart, the BB are indicative of a nice squeeze between support at 30.64 and resistance at 32.78 (which was Sept. 4 previous support and is now current resistance). On Sept 8 with the news of a partnership with GM, the stock surged from 35.63 to breaking through previous resistance of 37.32 to 54.50 in a day! I always say "what goes up must come down" but this crash and burned due to a Hindenburg report of bad news, go figure, haters... so they sold the fear which leaves us in this consolidation zone of the unknown. The RSI at 34.99 on the last candle is starting to trend higher than the previous 25 candles (the 25th candle previous also had a RSI of 34.99, a purple arrow is used to show which candlestick). The 25 candlestick back also happens to be support 37.27 which was "pre-GM news" resistance. The main thing going against this trade for a bullish run is no confirmation, only an inverted hammer. So if the price opens above previous close and the bulls are in charge, it may be time to grab a long position. It bottomed out at 30.82 or did it? Squeeze coming tomorrow? Its at the end of a bull flag also signaling a change. I think no more fear to sell... I've traded this since its early days of VTIQ. I did my DD and I knew what I was buying/selling. Every company starts with a vision. Intangible/intellectual assets are some times more valuable than tangible ones. Know what you own. This is not TSLA, two TOTALLY different companies, concepts. At the end of the day, something is only worth what someone is willing to pay. Right now I'm willing to pay 31.76 only if I have confirmation and my stop would be 30.62 just below support. Short term neutral, long term bullish, very long term.
NASDAQ:NKLA
by VelvetBarbie
1
Parabolic Arc?I hate this label..because it will look like one then it blasts off again! Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. Parabolic Arc patterns are rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages. This one is not despite good nes, then bad news etc Volatile yes, but I have been afraid to touch it and I am not sure it would have mattered what the news was if it is indeed the P arc pattern Most return to 50 to 62% of their rise in correction mode. 50% would have been 52ish and we are past there, past 62% as well. Where will she land? I am guessing 28.3ish??? lol I have no clue No telling...I am watching it though
NASDAQ:NKLA
by lauralea
Nikola Re-Accumulation?Bad news hitting Nikola. I’m watching this for moves to the upside. Currently no entry, but I’m watching. Wykoff said the Composite Operator (market makers) hide their moves in news events. The way I see it, value investors just see opportunities, either way, opportunities could be exposing themselves soon here. These automated automakers are going to be the next GMs and Fords. The business model of old is crashing the world is beginning to move in a new direction. All ideas are subject to change.
NASDAQ:NKLALong
by Ayric
8