For those who havent taken profits from Nikola's awesome earnings day, Nikola might be in a mega bull flag on the daily. Since June, Nikola has been slowly sinking downward and has hit close to the bottom. Today is the first day Nikola has risen outside my wedge formation and it looks like it needs ONE more down turn before it springs up like a mad man.
Up above Nikola still needs to gap fill by at least around 48 dollars where likely I will take profts but leave some in to hold to see if it will explode higher up to 78 dollars where another gap is at. But don't count on that necessarily. It might take months to climb to that area. Either way, Nikola is only a few days to a week away from spring loading one last time. So if you still have your Nikola from the bottom, awesome! If not, you may get one more chance to scoop some when it bottoms out before a possible huge shot up.
What drugs did you take to see a Mega Bull Flag? :-)
Harley_Drake
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@andyscappinimon, The good ones. lol. As everything its a hypothesis, nikola generally spikes the first week of the month. If it doesnt spike it will just go down further. Im looking to see where its at tomorrow since there is going to be a VIX spike coming. So it should lower, but the downside is extremely limited right now due to liquidity. Fridays generally green up in the afternoons and if they don't, Mondays have been green 98% of the time the past few months. But August looks like its going to be volatile since ES1! is so close to the Feb Gap and we are seeing similar conditions to June.
Either way either the bag holders keep it and dump it off in September (or next best opportunity) or a loss is taken. I did unloading yesterday. End of the month is the best time to grab Nikola. Although its upside is getting more and more limited unless it spikes hard. I dont think the new spike will be as big as the first one though. But a gap close above would be nice at least 48 and there is another one at 78 that might take time to get to. Generally descending flags spring up and on a larger level this could be a signal that it will move higher. We will have to wait a bit longer to see if the winds shift on Nikola's downtrend which might take a few days to a few weeks. This might be a wonky month for us all! Buckle up!
jaanolev
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Does anyone know any of their sales or other income besides Badger tickets (5000$ per badger, no manufacturer found yet)?
To me it looks like they are just burning cash and having actual point of profitability comeing in 2030, not even near 2020 december like they promise.
Here is Trevor Miltons view: Hype like MAD and get the market believe its a BIG thing. Use the investor money to start begging for manufacturers to help them.
The whole probability rests on the crucial network of hydrogen stations and price of 3$ instead of 16$. This is far out af imo.
Elon Musk has DETAILED vision of every mechanical and techincal detail about the product they develop, whereas boy Trevor here has a detailed view about their business plan and punchlines to any rejection or doubt to his gigantic claims.
Trevor is rubbing his nuts with 100 dolla bills in his new gigantic ranch, :D genius marketer.
Lets see how this will roll out tho :P
Cheers!
Harley_Drake
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@jaanolev, That is why this is what I call a scalping stock. Its still too early to tell its profitability, so we take money where we can and not hold or invest full term. Honestly, I see self-driving cars destroying his plans and those are much closer to reality because they are already on the road right now working and being tested, they just have a driver with them in case they need to manually take over. Im sure we will see how this stock plays out over long term, but for now its volatility is what I like about it more. As soon as Tesla makes a truck that doesn't look like a terrible video game tank, this would likely be dead in the water unless the company manages to flex to a different industry with the technology. I am definitely interested in how Nikola survives.