NKLA (double bottom with a descending wedge pattern) Reversal pattern with a volatile stock. It could be really good to have although its not a blue chip.
1NKLA trade ideas
The Ol' Wyckoff AccumulationHere is something to keep in mind. The probability of this happening is just as good as any other TA. I wouldn't be suprised if earnings for NKLA drops the price to the Support around 16. Enjoy!
$NKLA has earnings monday. What to expect!Asking ourselves "what value could NKLA bring to the ER" the answer is probably nothing substantial. The expextaions are low, so if they have made any improvements over the last few months perhaps we could see a break past resistance, BUT i doubt that. We are up against a major resistance and the only thing I believe that could save it is a the announcement of the GM deal. The chart is set up for some serious downside and ill be signaling in my chatroom. This could present the perfect straddle opportunity.
Zero revenues and a lot of fishy stuff going onCurrently at $7 billion valuation but with zero revenues. Going below $4 soon imo
Bear Flag in NKLAPossible opportunity to get short NKLA as it builds a bear flag. Showing weakness as it continues to fail at the 10 and 20-day EMAs.
Nikola ("Of all things, I liked books best.")View On Nikola (21 Sept 2020)
Nikola is in the strong downtrend and it is about the touch some serious trend line.
So, I expect it can fall further but please be cautious too. Why? It is near "normal" up trend line.
A very good support level for this counter is $15-$20 region.
Let's see..
DYODD, all the best and read the disclaimer too.
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NKLA - A higher probabiity to move up Here's a probable wave count suggesting a move higher for NKLA.
Wave 1 and Wave 2 complete, are we going to take off on Wave 3 ?!
EWTA
nkla bullish countNikola was impulsing in 5 waves so after this correction ends i would expect to impulse at least one more time. Cheers!
NKLA LONGI was a bit too bullish on my last NKLA idea. I pasted the link to that idea below.
Here is the new start fresh bull plan.
watch it as it follows this channel and wait for confirmation that it has left the channel.
I will also be watching so if you follow this post I will notify you.
As always I look forward to your comments for or against my ideas.
NIKOLA technical analysis The bubble has burst in NIKOLA. The company is in a clear down trend and have a high change of bankruptcy by the year end. I will short this stock and target initial 0.618 fib.
r.i.p. Nikolatextbook bearish pennant, not looking good
could bounce short term but based on fundamentals, it won't be much
NKLA beginning ABC retracement, target 17Not the best looking chart, had a horizontal leading diagonal for a while with no clear elliott count, but very decisive break to the downside this morning. Looking for a retest of the low around 17. Copyright Rohan Karunaratne 2020
NKLA 10/12 Ascending TriangleAscending triangle:
retest the resistance (upper green line
If we dont break, head back down and hit a higher low (lower green line)
Retest Resistance and hopefully this time break through shoot towards the $28 range (dark red line)
NKLA lotto trade idea 💡It's a very short term and high risk trade!
Contract could go to zero!
23rd Oct calls $25
Simple breakout game!
Hugh risk, high gain too ⚠️
Nikola - Down Over 80% - $NKLANot a good look for the Nikola Company and its shareholders (if there are any left) after they just received their first Sell rating from wallstreet by Barrons with a price target of $15.00. $NKLA is down over 80% from it's June ATH less than just 100 days ago.
The sell off began just after Nikola's deal with GM, when it was pointed out that Nikola's founder Trevor Milton wasn't telling the truth at a 2016 event when he said that the Nikola One truck on the stage "fully functions." Nikola now says the truck never worked. It was just a promotional video of the truck. In the video the truck looks like it was functioning but was in reality rolling down a hill. You can see why shareholders aren't pleased with this. Now Nikola argues that this was old news and irrelevant because Nikola is no longer marketing the Nikola One and is now marketing a working prototype of the Nikola Two. So we never even got to see a real fully functioning Nikola 1, but don't worry, that's not important because we're now focusing on the Nikola 2. While I am rooting for them (always for technological advancement), this wasn't the founders brightest moment, and he has now stepped down.
Along with the working on the Nikola 2, the company is now struggling to find partners to build a planned network of hydrogen fueling stations across the country. They were previously in talks with BP for these and with help on logistics but these are now rumored to be on hold. We're waiting to see if these deals are made and for the stock sell off to finish before buying in on this one.
TA:
Target $15.00-16.00 area if can find support is the area we're looking at but don't try to catch a falling knife just yet. Wait for support.
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ABC BullishGaps overhead may be tough so Beware. Price has to get through gap to reach targets
I think if it can get over 28.05, NV will kick
Safe long entry if an uptrend is in place. Well as safe as it can be anyway in the market.
There is not telling what will happen day to day so be safe
Short is high on this one
A lot of volume at 15-17ish
No rising wedges in this chart. Possibly an arc after IPO debut causing a drastic fall
Plus bad news did not help. This one fell almost the entire arc pattern but seems to be resting now in but do not think it will be in peace.
Expecting volatility for sure
Possible stop under 15
Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. Parabolic Arc patterns are rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages
Go with your gut on this one. It may be a struggle
Not a recommendation
Bottom FishingDid NKLA find support despite the bad news that has been thrown at it? Has fallen more than the norm if this was a parabolic arc pattern
The percentages on the chart are related to the average percentage a stock falls after the ARC pattern and NKLA's price at each percentage
I thought about it and odd that GM would have invested in it if it was that awful of a company.?
Makes me wonder if competition could have thrown a lot ob NKLA to slow them down..lol Politicians do it. Companies may do it as well
Who knows?
I hate this label..I hate the label Parabolic Arc..because it will look like one then it blasts off again! PTON looked like the ARC, but still gaining.
Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. Parabolic Arc patterns are rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages.
This one is not despite good nes , then bad news etc Volatile yes, but I have been afraid to touch it and I am not sure it would have mattered what the news was if it is indeed the P arc pattern
Most return to 50 to 62% of their rise in correction mode. 50% would have been 52ish and we are past there, past 62% as well. Where will she land?
I am guessing 28.3ish??? lol I have no clue
Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. Parabolic Arc patterns are rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages.
This one is not despite good news , then bad news etc Volatile yes, but I have been afraid to touch it and I am not sure it would have mattered what the news was if it was indeed the P arc pattern
Most return to 50 to 62% of their rise in correction mode. 50% would have been 52ish and we are past there, past 62% as well. Where will she land?
This one fell almost the whole way/over the 89% mark but not to 100%
I am cautiously long with a stop and see how she does. There will be R on the way up, this I know. NV is picking up. Short interest remains high. Risky!
If she bombs tomorrow, I will be sorry I wrote this..LOL
Not a recommendation
