AXLP
Long

NIKOLA - Don't get fooled

NASDAQ:NKLA   NIKOLA CORPORATION
Nikola is falling true it's support like a beer down my throat. I don't see why it should stop falling here. It might have a little bounce towards the blue MA, but after that I believe it will go down further, testing the pink and maybe the yellow MA. That would be around it's previous high.

After that I believe it will put on it's rock climbing shoes, because Nikola is here to stay, and might use the climbing ropes that Tesla left hanging on the walls.
Comment: If NIKOLA can stay above the brown support line, it could bounce from there. Keep in mind the market seems to be selling of. So be careful entering long.
Comment: you could consider making small entries here with a stop loss.
It touched the pink MA, a good indicator for a bounce. Still a possibility thing will drop further.
Comment: Still trading inside a downwards channel. Need to see price break out of this channel.
Comment: We broke resistance. Looking for some upwards action from here.

Comments

AXLP - I don't see where you're wrong in this case, you predicted it right, will follow your advice and jump in for a small bit.
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AXLP prasadf4
@prasadf4, Price could not hold above the 100MA support, so I think this will fall further down. Always wait for some proof of price finding support and/or strength, what I'm not seeing at the moment.
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i guess he is right and was @ school for years :D
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So how often are you wrong cuz you're certainly wrong this time about this company maybe you should go back to school
Reply
AXLP dan2794
@dan2794, Tell me how I am wrong?
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