First off, please don't take this seriously or as financial advice. As always, this is on an opinion based basis. That being said, I been following this since it was $48, and then I saw it hit $52.40 at noon. I knew this was going to blow up. Nikola has been blowing up. One of the biggest bull runs ever I seen for EVs. Now it closed at $73.27, and post market already grew by $14. The support is definitely there. I was originally going to say it will hit $100. It looks like it can surpass now even $120 quite soon.
Comment
⋅
Some people I mentioned to finally decided to take the risk and bited at 60/share few hours ago. Wanted to post this at noon, but TradingView had a 24hr post cap limit. Looking at past charts, lots of analyst didn't go long and just fear factored themselves. Could go to $150, but currently thing patterns may go to $120 then dip to $78 for a rebuy. If it goes to $150, dip can be as high as $110 post-resistance. Just my opinion, stay safe and do at your own risk.
Comment
⋅
Sorry for the typos, on my phone. But that being said, definitely on the watchlist!
Comment
⋅
Currently, this is still going insane. Can it go to $120? After-market hours are looking bad, and it seems people are overly speculative, that being said I still have at least a 50% confidence interval in my original opinion.
Trade closed manually
⋅
It is now at $74.47, I think most likely it will go through a bearish run and retrace towards $57. I see now 57% it will go down, 43% it continues bullish movement. Not sure if it is worth the risk given the financial projections and company stage isn't that strong.
It's madness, this is like the 1999 bubble. They haven't even manufactured a car yet it has a higher market cap than Ford. This is a pump and dump.
gamer456148
⋅
@majypoo, That is what I felt like too, but I think they still have strong IP and brand equity value. I look at it from the patterns perspective. However, don't want to stay there for long because looks like a bust. No revenue yet, and I still think this is non logical growth, but now pattern is picking up support
GambitMentality
⋅
I bought this stock about one to two weeks before the IPO when it was trading under VTIQ. I got in when it was $28. The day it IPO'd under NKLA, it IPO'd at $37.55 and a lot of people laughed when it dropped that same day to $32. Well, while people were laughing, I jumped on again there at $32 and bought 100 more shares. I figured hell, I'm already in at $28 and jumping in at $32 basically takes me to a $30 average so as long as it's up from $30, I am also up and that's what really matters.
When it comes to the market, I follow 3 rules:
1. If it's in the news and being talked about, you are probably too late.
2. I DO NOT listen to other people in order to make a decision on buying and selling. If I do that, I might as well work for you. lol I will listen to thoughts or opinions, but I ultimately make my own decisions and I follow my gut, no one else's. Like everyone, I win some and I lose some but that's the way this market rolls.
3. I don't marry a stock. I long some and get in and get out with others and I make that decision based on how much I believe in the company.
gamer456148
⋅
@Ondawire, Pretty savage, in regards to your rules:
1) You are right on #1, rare occasions though it has some time to peak before it dips, like we are seeing now and with SAVE. That being said, generally looking at stocks such as NVAX, MDNA, and even outside the biotech category, that rule is really true most times. It is hyped then crashes. That is why it is better to wait until dips. It is very rare to be extra bullish in full on green. You make more money prior to the hype doing due diligence and seeing an all red stock recently you know will go up.
2) I partially listen to what others are saying, but also look at the patterns. Lots of times I knew x research form or enter hedge fund name here will be wrong, and lots of time I know they will be spot on and are words of wisdom. I take into account what experts say, but I don't make it the underlining decisions for most trades, just a small factor.
3) Marrying a stock is one of the worst things you can do. People can stay forever on a stock in hopes that their account makes 12% in 6 month or they can keep compounding their account over and over again. Even stocks that are very bullish, if you can sell it for the opportunity cost to make much higher in the same amount of time than keeping it, get rid of the thing! It is a very newbie move for most traders not to compound. Also, as long as it doesn't pass some sort of ethical boundary, I never try putting too much weight on whether or not I believe in the company. I look at it as whether or not I can make a nice ROI pattern-wise.
Again, just my opinion and my two cents. You seem in general though to know more then half the people I seen today.
dgea
⋅
I bought some at $35, purely on technical, however, I'm curious on how
you feel this can potentially hit $150?
gamer456148
⋅
@dgea, likely closer to hit $120 then retrace to $78. Rarely, however people are extra bullish and the support line continues. Good example was what happened to Wayfair or even most recently SAVE. That's why it is a close watch. Don't wanna miss the profit and dip. Sometimes I do an automatic sale order and if it is about to ladder it, cancel and readjust to mitigate risk.
tacosaurus
⋅
@dgea, the thing to watch that is awe-inspiring is the robinhood acct count. yesterday, there were about 55k people. today, there are 122k. I.e ~~ 70k people put cash into this name. the float is tiny at 23m and short interest was growing a month ago. volume today is 3x the float. there are simply not enough shares available. so it will go up fast - but also can come down equally fast. mostly that is going to depend on the hype train. I think it can still go higher into the stupid zone.
gamer456148
⋅
@tacosaurus, Same, I think the level though should be closer to $120 before it crashes. Right now, insanely ridiculous at this point, but when people trade they trade. It is all a sociophysics game in the market.
gamer456148
⋅
@tacosaurus, I now agree that bearish movement seems too imminent. Position changed