I would like to bring your attention to Nikola Corporation (NKLA) and the intriguing bullish potential it currently exhibits. In this post, I will outline a Fibonacci retracement analysis for NKLA, along with key take profit levels that could be considered for potential trade setups.
Recent Market Developments: Yesterday, NKLA demonstrated a notable rebound from the 0.382 retracement level, suggesting the presence of support in that area. Moreover, the stock is currently displaying signs of a breakout above the 0.618 retracement level, which is a positive indication for further upside potential.
Analysis and Trading Considerations: 1. With the rebound from the 0.382 retracement level, there is a higher likelihood of a bullish continuation. The move beyond the 0.618 level confirms this sentiment. 2. Traders may consider initiating long positions in NKLA, targeting the take profit levels mentioned above. 3. It is important to closely monitor the price action and market conditions to adjust your trading strategy accordingly. Implementing appropriate risk management measures is always advised.
Please note that this post is meant to provide informative insights and should not be considered as financial advice. Always conduct your own analysis and consult with a financial professional before making any trading decisions.
Best of luck with your trades, and may the markets be in your favor!
Disclaimer: Trading involves risks, and there is no guarantee of profits. The author of this post bears no responsibility for any trading losses incurred by individuals following the information provided herein.
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We do need to break through the 0.618 level before we can continue any further upwards.
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We'll find out now which direction we are going.
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Nikola Corp Says Received Notice From Nasdaq Informing Co That It Has Regained Compliance With Nasdaq Listing Rule 5450(A)(1)
@fantasyste, unfortunately my calls expired last week and I started looking into other companies. I'd wait for a pullback and confirmation that the bullish trend will continue
hungmttoronto
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Thanks
hungmttoronto
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I agree potential big win,
maybethatguy
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@hungmttoronto, I have some calls in the money and some at $1.50 expiring tomorrow. Hoping for a big day. Things still look bullish. Looks like we might be above the 0.618 level now. $1.27
fantasyste
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@maybethatguy, it got rejected at 1,43 many times. Last time pump together with Tesla then down.
Very good work thanks for giving tip, with all confused on the news making uncertainty, trader mostly lose money on the news even good stocks. Therefore I will buy and hold Nkla,either win big or Dont . If it bad already happens. But the wining for this is good ,just same as casino. This is my personal opinion