NKLA breakout tomorrow?

Hello, today I would like to go over NKLA and what I believe in the company.

First NKLA and TESLA can coexist in the same place, neither one or another is better than the other. They just chose to tackle the problem in a different way. NKLA makes the argument that their business model will be more cost affective for consumers than TESLA approach with regulatory problems with electrical cars. When travling you might pay less or more depending on the state lines you are in with eletrical cars not much different with gas right, well it cuts the cost of fossil fuels so its a win, yet NKLA wants to even the playing field cutting the cost across all fuel recharge stations through its hydrofuelcells, also you can get a hybrid of hydrofuelcell or electrical truck if you want. Now NKLA stated that it isn't here to take over TESLA market, it only wants to focus on commercial trucking and will have a consumer heavy duty truck, which is the only competition with TESLA . Commercial trucking makes up alot of pollution in on the roads , so they are trying to solve the commercial problem as of TESLA solves the consumer problem, so win win.

NKLA is show casing its consumer truck, which is a mix of the F-150 and cybertruck, yet more modern and update looking compared to the cybertruck. (don't get me wrong TESLA has a solid truck and looks great, but from an ad perspective i go with NKLA in a modern feel to help get people that love trucks into electrical and clean energy vehicals. Plus they might not feel so silly driving a cybertruck as we transition.)

Right now we could suspect a breakout tomorrow, yet the problem with whats happening is the short positions are growing at an alarming rate. Whos shorting this? Well you got insitutions betting on TESLA over NKLA, TESLA investors, and many analysis that just don't understand. Also before it was known as NKLA it was launched at around $9 and has been rising ever since unlike SPCE , yet it never launched as NKLA until a few weeks ago.
-RSI is over sold, yet not overlly oversold
-MACD has turned bullish
-We are holding the 50ema as support
-If you do want to buy and are too scared to go all in or whatever I do give a range of 62.95-65.59. a break above 69.89 could cause a major breakout hitting 73

Final thoughts
This is a very speculative asset and it best to buy in a few shares. I give the price target of eoy at 200 dollars (this guy is crazy), yet hear me out. We are gonna see the consumer truck at the end of this year, bullish , by the end of year in fall I do suspect us to get the numbers of how many orders they have for 2021 production, and last there is small chance that the consumer truck may come out early if they are show casing it now, may be a summer or fall 2021 release. For now I'll go lone and swing trade with other stocks like NCLH and SAVE.
Comment: Heres a slight update on my graph with one more support until its a free fall. After 59.90 I would add 55 but after that its up to PR my average on RH is 62.41 and Webull is 62.4


Nikola: Impending Free Trading Shares Will Cause An Imminent Crash To Less Than $20
NKLA• Tue, Jun. 16, 8:30 AM • Edward Vranic, CFA•133 Comments
+2 Reply
Thank you! What’s your take on tomorrow’s trade? I’m long call options @ 70 strike.
+1 Reply
How does the “bad news” toward the end of trade impact these charts? Did the major sell off change things much; or is that factored in? Thanks!
+1 Reply
@MDG21, we wicked off the 50ema. look at my posted updated post with updated chart. I draw one more sport line going as low as 59.90
+1 Reply
MDG21 nathanielx9
Thank you! What’s your take on tomorrow’s trade? I’m long call options @ 70 strike. Was looking good before news broke at end of day.
+1 Reply
Thanks for sharing
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