torekx

NKLA - ELLIPSIS analysis, TP 200 EMA close, 15 SMA cross

Long
NASDAQ:NKLA   Nikola Corporation
Hi shorties, and longs.

In my opinion, NKLA entered short term uptrend today. For the first time since January, NKLA crossed 15 SMA while being in the downtrend.
The relative volume shows buyers. Sorry shorties - I think you had your time and your time will come again :(
The last time NKLA crossed 15 SMA move lasted till 200 EMA cross. It happened two times already, and you know what. History likes to repeat itself.
Today candle retested 15 SMA and nicely rebound confirming uptrend move at least for the next swing. (15?)

Take a look at key elipsis point for better understanding. Ugly but shows basically my speculation thesis.

The stock had also MACD bullish crossover today.

Good luck to longs this time.

Comments

Great analysis..gd luck
Reply