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NKLA trade ideas

NKLA potential bounce next weekIt'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 bulls i'm not sure 13.65 provides enough of a bounce to push this stock up over 14 and reverse, so more then likely it'll be a failed breakout followed by more selling off. I'm as bullish as anyone on this stock but it's hard to envision a scenario where this goes up in the next month, i wouldn't be surprised to this stair step down for another few weeks before finding some real support. I feel like we could see 12.50 or possibly 11s before we get a true bounce, i'll have my next buy lined up in the 11s or 12s if it gets there. There's more selling to go but eventually it will relent and the bulls will send this higher once nkla gets the tre's on the road. Stay strong bulls.
NASDAQ:NKLALong
by Grant555
2
🟢 Added to $NKLA Target 19.91 for 34.98% (Risk Level - Med)🟢 Added to $NKLA Target 19.91 for 34.98% (Risk Level - Med) Or double position at 10.61 ----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. Numbers with an A are places that are a good idea to add if you can. Numbers with a D are places where you should double your position. I start every position with .5 - 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
NASDAQ:NKLALong
by SPYder_QQQueen_Trading
6
🟢 $NKLA Target 20.93 for 32.72% (Risk Level - MED)🟢 $NKLA Target 20.93 for 32.72% (Risk Level - MED) Or double position at 10.61 I also have an open buy order at 13.74 I posted this one yesterday but they I got the dreaded 24 hr TV flag restriction 😬... haha... it's ok... ----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. Numbers with an A are places that are a good idea to add if you can. Numbers with a D are places where you should double your position. I start every position with .5 - 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
NASDAQ:NKLALong
by SPYder_QQQueen_Trading
After a solid run NKLA is looking to be consolidatingNikola 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 waited until the stock price was higher to sell, so this isn't a bad sign imo. Now until those 11 million shares get bought up i don't think nikola moves up past that 18.50-19 resistance area. Also something to note, Hanwha sold 2.9 million of those 11 shares from june 9th-28th. There will be more selling so i'm looking to see if nkla backtests 15 and if it does i will add more to my position there.
NASDAQ:NKLA
by Grant555
Where are we going this weekThe 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 bounce after the gap fill. However if the gap fills and the selling continues i'll be looking to sell calls against my shares, we could easily fill the gap and test 15.40 and 15 pretty quickly. I expect a volatile week in price action in either direction, this stock has been a great one to swing lately so trade swiftly and stick to your plan.
NASDAQ:NKLA
by Grant555
2
NKLA: Chart Reading June 2* this is a pure chart reading (analysis) for NKLA and expected scenarios based on price and volume action and what the indicators tell us - has nothing to do with the fundamentals or how the business itself is doing. Daily Chart: - NKLA has accelerated in the past few days with (couple of days showing) large % moves supported by big volume (almost 2x daily avg) - NKLA has been moving within a steady channel for the past few months - in this channel, this will be the 6th attempt to break the upper channel line - indicators showing a move to the bullish side for momentum, sentiment and net volume - but that has already happened in all the prior breakout attempts - doesn't really mean a big deal Price Projections: - measured move (based on price structure) target #1 was $16 - which was hit last week. we see how the action hesitated once that target was hit - The next measured move goes up to ~ $21.6 -- that's 22% from where we closed today (Wed June 2nd) - that's our scenario #1 - is this target too far: given the recent big moves, and how NKLA accelerated towards the $16, it can take only 2 "big days" to get to that next target --- *BUT* if we look at the prior breakout attempts, that move may fail - it really depends on how the bulls act at this level, and if more buyers continue to come in more that those who are shorting or cashing out .. so scenario #2 is that NKLA goes back into the channel the good news in both scenarios, is that some action is happening - it seems many traders got stuck with NKLA and were considering it a "loser" weekly chart: - the weekly shows that the "weakness is fading" - rather than "strength is increasing" - so we're not really in bull territory yet -- may get there if the strength continues for couple more weeks - the weekly chart does a better job in showing the priori breakout attempts Active positions in NKLA will need to be watched very closely and managed carefully.. this is a very volatile landscape. good luck!
NASDAQ:NKLA
by RedKTrader
1
NKLA Squeeze Spark PriceNASDAQ:NKLA 20$ - The Squeeze Spark Price A successful squeeze is all about breaking shorts stop loss buy orders.. Demand Momentum (buying) is required until reaching the first spark price, then it will autopilot to the moon,, but where is that spark price ?! Will need to analyze the Short Interest (SI) activity compared to price.. Analyzing the Short Interest history,, it increased from 17.71% (26Feb) up to 36.06% (30Apr) www.nasdaqtrader.com Dividing this period into 2 parts: Part 1: 26Feb to 31Mar - SI 17.71% --> 23.36% with Price dropping from $20 down to $13.xx, so Stop loss limits would concentrate little bit higher, range $20 to $25 Part 2: 31Mar to 30 Apr - SI 23.36% --> 36.06% with Price dropping from $13.x down to $11.xx, so Stop loss limits would concentrate in a range of $15 to $20 Why is the strong resistance near 20?? Just an Opinion, not a financial advice!!
NASDAQ:NKLALong
by mdiaa1985
1
Call option idea ( hero or zero)I know this company is worth nothing and might go bankruptcy, but apparently the Hege funds are betting too much (short side) . They are shorting more than the actual float using naked short and synthetic shares ( I guess, cuz no way to find out the real short interest ). Also, the weekly chart showing some reversing signs. So, this stock is a good candidate for a gamma squeeze. The idea is : buy a call option strike $25 expiry July 16th @ 0.55 Please note: - I'm just sharing my view. its not a recommendation for buying or selling.
NASDAQ:NKLALong
by MrMercato