Well I was reluctant to update this one - but todays price action gave it a little bit of life. Not much. Esp if price cannot get over 90 cents soon. If we retrace and stay below 90 cents its just floundering and could go lower as indicated by lower support (at this point its going to need some serious help if it goes that low).
If price gets over 90 cents soon there maybe hope for a Xmas rally on NKLA, but do not get your hopes up. It has to still get past 1 dollar and even then there had better be SOLID pattern. I tend to think it may waffle around in price action and hopefully we get a new pattern as 2024 comes in. If not and this shoots up the max target is the upper yellow line that I see right now- a whopping 1.24 cents. Nothing to get excited about right now, but its better than descending prices. Price action is indicated by the arc and support and resistance lines extend out until end of Dec.
If price gets over 90 cents soon there maybe hope for a Xmas rally on NKLA, but do not get your hopes up. It has to still get past 1 dollar and even then there had better be SOLID pattern. I tend to think it may waffle around in price action and hopefully we get a new pattern as 2024 comes in. If not and this shoots up the max target is the upper yellow line that I see right now- a whopping 1.24 cents. Nothing to get excited about right now, but its better than descending prices. Price action is indicated by the arc and support and resistance lines extend out until end of Dec.
Trade active:
I like what I'm seeig so far with NKLA reaching the target in this chart. There is a new bullish pattern (complimentary to the crab pattern here)- its forming and this could really skyrocket hard to the upside to the 1.25-1.26 target
Trade active:
NKLA with the low vibrational fake out today LOL. The market is really trying to shake out the weak hands.. this is usually indicative of a fast sweep upside. If you notice the post market price is back up to 87 cent vs the EOD price of .84 cents. I am calling a sell fake today! So I hold.
Comment:
Its about time to re-explore.. NKLA has now hit the lower support on this graph, signaling a low.. actually a historical low that we have seen before- ie a double bottom. See June 6, 2023 Between now and the next 30 days NKLA is set to see some dramatic changes to the upside. Good news for those who have held. A new chart will be posted soon.
Comment:
I'm going to leave this chart up until price surpasses the target. I think its still valid - although there are a few more harmonics in play. I do think NKLA could see a rapid FOMO action soon. Around and up to 96-97 cents. This may not be the rally to buy into as the market / price will need a place to settle and get comfortable with. Based upon this chart- this is still in NO MANS LAND area of the chart (prior to the gap down). Meaning there is no significant area to settle. Prices may need to fill in this region. So price could easily retrace to the downside. This is normal for the harmonic in play though. Also make note that volume is over the 7 day moving avg on the 30 min, 1hr, 4hr charts.
Trade active:
Liftoff for some good gains on a Friday
Comment:
market doesnt seem so generous.. Maybe Monday - price action and volume look great though.
Trade active:
New target .90 cents.
Trade active:
Please note the tight consolidation at the bottom yellow line... NKLA may be due any day now.
Comment:
Finally getting that action we need to see on NKLA!
Order cancelled:
Disappointing news about NKLA wanting to split the stock. Had to sell on that news. Im out and more than likely done with NKLA. Closed out trade.
Moorsc0de aka Crypt0nomics aka Zaphkiel
This is why the chart has "NO MANS LAND" on it.. its a waffle area. When price gets to 1 dollar to 1.04 its more of a check for a new pattern area, but until then it just looks "meh".