Nikola finally tested the long term resistance trendline today, largely based on Earning Report anticipation. It was quickly rejected from the trendline on HIGH volume. This was also the first time it tested the bearish ema death cross, and its now confirmed. Expect further mark downs. Knowing how SPACs work, their traditional FIB levels, and psychological...
If you like this analysis, please make sure to like the post! I would also appreciate it if you could leave a comment below with some original insight. In this analysis, I'll be providing an in-depth analysis on Nikola Corporation (NKLA), also recently known as the Tesla (TSLA) killer. I'll provide an overall understanding of what Hydrogen vehicles are, what...
On the 15 minute chart, the BB are indicative of a nice squeeze between support at 30.64 and resistance at 32.78 (which was Sept. 4 previous support and is now current resistance). On Sept 8 with the news of a partnership with GM, the stock surged from 35.63 to breaking through previous resistance of 37.32 to 54.50 in a day! I always say "what goes up must come...
Hello Traders, NKLA has been pinned down lately on the assumption that this company is not real, they don't have a single product, and that they are a total scam. Well...there's a lot of those in the stock market. We are NOT another NKLA shill...we simply trade the charts. Let's take you guys back to early August when we entered our trade (3-6month swing...
Nikola, daily timeframe: Mirror level + Support line + Breakout of resistance line + Price holding on these levels
NKLA breaking out of text book falling wedge. Next target is 51
I was expecting it to test the break of the support trend line much sooner then it played out, but it did play out. Interesting to see which way it goes here.
Make or break time for NKLA. It will more than likely test it's previous support trend line, the test will confirm it as resistance now and signal a longer term bear consolidation period, potentially going much lower. It will probably continue to hug the previous support trendline, now resistance trendline until the stock (which is turning up right now) gets...
Like I was predicting earlier today, Nikola broke down from it's bearish consolidation period. Support is still at $33, but with warrants jumping in price to $27 this implies a $38 stock price for Nikola. It's good to get this bearish consolidation out of the way, and good to get the warrants out from hanging over its head. Now its time to build support.