NKLA is one of the newest IPO and Hot Stock right now in the stock market. It have a lot of bright ideas this company and a nice EV. I see potential in this company also but in a long term.
Here in the Chart analysis we can see the green uptrend line getting crossed by the candles (for me that means end of the uptrend for now). Now we see a red line (downtrend line) and the candles are following that line, but at the same time we can see also candles trading above SMA 50 and below SMA 200. I think there is a range of sideways between 61.14 and 39.68, If the sideways break 61.14 the stock will keep pushin higher. If the stock break down 39.68 it can go lower. I don't have position here right now. I will try jump later if I have a chance and I will give a little bit more of time to the company to show their big potential. With that said I'm neutral right now on NKLA.
***Remember*** This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.
@kellyjeff32, Support , Resistances and A bear Flag. Also the companh is new , it doesn't have enough data in the chart, but I will go with tendencies.