When the Price of Nikola Corp NKLA Talks, People Listen

September 15, 2021, 08:15 am ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Nikola Corp (NASDAQ: NKLA) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for NKLA can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for NKLA

• Buy NKLA slightly over 9.82 target 14.84 stop loss @ 9.79 Details

The technical summary data tells us to buy NKLA near 9.82 with an upside target of 14.84. This data also tells us to set a stop loss @ 9.79 to protect against excessive loss in case the stock begins to move against the trade. 9.82 is the first level of support below 10.2116 , and by rule, any test of support is a buy signal. In this case, support 9.82 is being tested, a buy signal would exist.

• Short NKLA under 14.84, target 9.82, stop loss @ 14.88 Details

The technical summary data is suggesting a short of NKLA as it gets near 14.84 with a downside target of 9.82. We should have a stop loss in place at 14.88though. 14.84 is the first level of resistance above 10.2116, and by rule, any test of resistance is a short signal. In this case, if resistance 14.84 is being tested, a short signal would exist.

Swing Trading Plans for NKLA

• Buy NKLA slightly over 10.57, target 14.84, Stop Loss @ 10.54 Details

If 10.57 begins to break higher, the technical summary data tells us to buy NKLA just slightly over 10.57, with an upside target of 14.84. The data also tells us to set a stop loss @ 10.54 in case the stock turns against the trade. 10.57 is the first level of resistance above 10.2116, and by rule, any break above resistance is a buy signal. In this case, 10.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NKLA near 10.57, target 9.82, Stop Loss @ 10.6. Details

The technical summary data is suggesting a short of NKLA if it tests 10.57 with a downside target of 9.82. We should have a stop loss in place at 10.6 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 10.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NKLA

• Buy NKLA slightly over 10.57, target 14.84, Stop Loss @ 10.55 Details

If 10.57 begins to break higher, the technical summary data tells us to buy NKLA just slightly over 10.57, with an upside target of 14.84. The data also tells us to set a stop loss @ 10.55 in case the stock turns against the trade. 10.57 is the first level of resistance above 10.2116, and by rule, any break above resistance is a buy signal. In this case, 10.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NKLA near 10.57, target 10.02, Stop Loss @ 10.59. Details

The technical summary data is suggesting a short of NKLA if it tests 10.57 with a downside target of 10.02. We should have a stop loss in place at 10.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 10.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

NKLA Ratings for September 15:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	6.48
P2	9.54	9.71	9.82
P3	10.02	10.57	14.84

Support and Resistance Plot Chart for NKLA

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