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 him. There's a laundry list of things milton did wrong and now he'll have to answer for those actions. On the bright side this news could finally put milton in the rear view mirror for this company, however it probably won't as we still don't know what's going to happen to trevors shares now that he's been formally charged (i hope all the shares are just returned back to nkla, wishful thinking on my part). Now putting the news aside for a minute, the chart is looking bearish still with the double top and h&s pattern playing out. It's hard to imagine this stock not going back to $10 and retesting that level. The real question is going to be if it does hit $10 will nkla bounce there or continue selling off?
Comment:
Looks like NKLA tests $10 tomorrow