NKLA has entered close to a buble correction with it hitting 60% correction with $28 being a 70% correction from the high. I personally bought a portion from my portfolio for a speculative play with NKLA world coming up and earnings coming very soon.
News
-Trevor is more active on social media defending NKLA, yet isn't as comical as Elon
-NKLA with Trevor has been posting more on NKLA's semi, yet we still haven't seen sneek peeks of the Badger just yet
-Preorders of the badger came out, yet no numbers have been publish, to me I'm waiting for earnings to see if they discuss them and orders on the semis
-on July 1st the PIPE and aquastion were able to sell and we saw the a massive sell off. Take this with a grain a salt since alot of bulls say there's no proof they sold, yet we havn't seen them buy/hold either. Only thing we have seen is volume picking up after that day that is comparable to the first run up to its ath.
-To recap current NKLA news I do recommend watching "Financial Education" since he has pretty good summary of current news that is unbiased and raises questions that common investors like you and me have.
TA
-Volume is still massive since NKLA last earning report and at current price if the uptrend continues a price target of $106.35 is something to watch out for if it produces the same % return.
-Major resistance between the old trading zones of 59.90-69.94, which you can speculate at current levels did with caplation after the PIPE and Warrants were available to be sold on the market.
-RSI is beyond oversold on the Hourly and the daily its oversold sold by 14.
-MACD is playing around atm showing uncertainty what the investors want. With past experience it could mean more downside unless there's positive news that comes out.
-EMA are bearish with the gap widening with a possibility of a quick trade for a short squeeze.
-Levels I'm looking at is the 70% correction zone 27.88-37.29 to find a new support base and have the volatility slow down.
-Current VPVR levels show we are under high volume interest which reflects the oversold RSI showing a move to the upside is very possible in the short term
Final thoughts
I think in the short term we could see upside, yet don't be surprise seeing a sub 30 NKLA. I'm buying for speculation on earnings report and NKLA world in december and think its a great time to get in a small postion until you see confirmation and positive news before going all in on the speculative play.
News
-Trevor is more active on social media defending NKLA, yet isn't as comical as Elon
-NKLA with Trevor has been posting more on NKLA's semi, yet we still haven't seen sneek peeks of the Badger just yet
-Preorders of the badger came out, yet no numbers have been publish, to me I'm waiting for earnings to see if they discuss them and orders on the semis
-on July 1st the PIPE and aquastion were able to sell and we saw the a massive sell off. Take this with a grain a salt since alot of bulls say there's no proof they sold, yet we havn't seen them buy/hold either. Only thing we have seen is volume picking up after that day that is comparable to the first run up to its ath.
-To recap current NKLA news I do recommend watching "Financial Education" since he has pretty good summary of current news that is unbiased and raises questions that common investors like you and me have.
TA
-Volume is still massive since NKLA last earning report and at current price if the uptrend continues a price target of $106.35 is something to watch out for if it produces the same % return.
-Major resistance between the old trading zones of 59.90-69.94, which you can speculate at current levels did with caplation after the PIPE and Warrants were available to be sold on the market.
-RSI is beyond oversold on the Hourly and the daily its oversold sold by 14.
-MACD is playing around atm showing uncertainty what the investors want. With past experience it could mean more downside unless there's positive news that comes out.
-EMA are bearish with the gap widening with a possibility of a quick trade for a short squeeze.
-Levels I'm looking at is the 70% correction zone 27.88-37.29 to find a new support base and have the volatility slow down.
-Current VPVR levels show we are under high volume interest which reflects the oversold RSI showing a move to the upside is very possible in the short term
Final thoughts
I think in the short term we could see upside, yet don't be surprise seeing a sub 30 NKLA. I'm buying for speculation on earnings report and NKLA world in december and think its a great time to get in a small postion until you see confirmation and positive news before going all in on the speculative play.
Comment:
Conservative price if earnings are good is range of $65-$80
