Grant555

Grant555

NKLA stock has been in a perpetual downtrend pretty much since it's existence, and every time the stock has tried to hold a meaningful rally it's been rejected by the 200 day MA. Once again NKLA finds itself rallying up to the 200 day MA, the bears have stepped in every time before at this spot, it would seem like they would step in again for one final push back...

Grant555

Nikola has been on fire since announcing that the assembly line has started building trucks (200-500 trucks expected this year) while still working on phase 2 of building the plant. The stock price had been consolidating between 6.50 and 8.50, but with favorable market conditions NKLA ran all the way to 11.50 today at one point. I don't expect the price to keep...

Grant555

Nikola may have finally put a bottom in around 6.50, it's backtested that region multiple times and it's been rallying hard since the last backtest. NKLA presented the public with a very big update on the future of the company today, they talk about how many trucks would be built at the coolidge facility as well as talking about current phase of construction going...

Grant555

11.50 has been tested twice and held, also 11.50 gave way briefly for a couple days and then proceeded to sell off harshly. That being said i'm looking for that 11.50 test tomorrow as a place to either buy or sell calls, it could be an opportune entry one way or the other.

Grant555 Updated 

NKLA price action these past few weeks has been range bound between 9 and 11.50, It looks like that 11.50 range could be retested this week if this rally continues. A clean break above 11.50 this week and it could run to 13s. The volume the last two days has been impressive, very steady buying throughout the day if that volume holds or increases I think that 11.50...

Grant555

NKLA broke above 10 today, generally that's bullish but a decent amount of the rally got faded today, that being said nkla still held over 10 which is good news for bulls, failure to crack 10 today could've easily turned bearish. I'm gonna go out on a limb here and say this is could a great price point to add some share of nkla, this stock has had a lot of ups and...

Grant555

NKLA is looking like it might be forming a support area at the 9 range, several nice bounces off this number in this past week. It appears that Milton has been dumping plenty of shares to cover his 100 million dollar bound he had to pay to avoid jailtime, for now anyways. In the short term Milton dumping these shares is obviously bearish as he as a alot of shares...

Grant555 Updated 

Well its been a couple of weeks since i've checked in and wowza we've had some crazy news and price action. It was looking like NKLA was going to enter into consolidation zone between 13.50 and 15 but then the sec charges against trevor milton were announced. While these charges may come as a surprise to some, i'm more surprised that it took this long to charge...

Grant555 Updated 

It's been a couple of weeks but nkla has acted about how i expected, the double top pattern has played out and the price action respected the pattern. Now that it has played out i'll be looking for a bounce on nkla, i'll be watching the 13.65ish level for a bounce, if it bounces there i'll be watching 14 very closely for a trend reversal. Unfortunately for the...

Grant555 Updated 

Nikola has been selling off recently and i think it has a good chance to continue, Hanwha which was one of NKLAs early investors has been selling alot of shares recently and they'll have even more to unload, they might sell up to 11 million shares before december 10th if the price is high enough and volume requirements are met. Hanwha had this plan since march and...

Grant555

NKLA has been looking nice as a of date, it's fair to wonder if nkla is setting up for a retest of of 18.60, if nkla can keep it's bullish momo then i think it could break out after clearing that level. conversely failure to break that level and nkla is gonna backtest 16.80s. i suspect strong buying if we get to that level, it could be a nice spot to grab some...

Grant555 Updated 

The price action on NKLA has been generally down for this month since the massive breakout. I expect the decline to continue even more here as NKLA has a gap to potentionally fill around 15.80. If that gap fills this week i'll be looking for a bounce up to the 17.20 area. ideally that gap fills on monday or tuesday and i can enter some weekly 17c and play the...

Grant555

NKLA has preformed very well as of late, it posted gains before this recent EV rally and has taken part in it as well. The question is will NKLA keep rallying as it posted a green day after back to back red days. I'll be watching the 18 mark closely, a clean break above 18 and this runs to 19.50,

Grant555 Updated 

Nikola has respected the levels to this point. If it can bounce tomorrow then perhaps a retest of 14 could happen and happen quick.

Grant555

So as we can see NKLA rejected the 12.60 area, i'm sure the bears will defend this 12.60 line as much as they can. That being said the uptrend is looking good for continuation and retest of that 12.60 area next week. A break above 12.60s and we could see some potential short squeezing in this stock since NKLA has been shorted at a high rate for a very long time.

Grant555 Updated 

NKLA has now sold off into it's premerger SPAC levels, the $10 level held this last week during earnings on the heels of good news. If NKLA can hold the $10 level this could be a potential bottom for a stock that has been getting beat up for a better part of a year. Is this finally the time for NKLA or is this just another opportunity to sell calls against my shares?