NKLA - Nikola Corp Pivots Trading Plans and Risk Controls

2023-05-07 03:00:00 ET

Stock Traders Daily has produced this trading report using a proprietary method.  This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in Nikola Corp (NASDAQ: NKLA) with integrated risk controls.

Warning:

The trading plans were valid at the time this was published, but the support and resistance levels for NKLA change as time passes, and this should be updated in real time.  Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports

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Instructions:

Use the basic rules of Technical Analysis.  Here are some examples: if NKLA is testing support the signal is to buy and target resistance.  On the other hand, if resistance is tested, that is a sign to short, and target support.  No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for NKLA too.  All of these are offered here: Access our Real Time Trading Plans

Longer Term Trading Plans for NKLA

• Buy NKLA slightly over 0.94 target 2.02 stop loss @ 0.94
• Short NKLA slightly under 2.02, target 0.94, stop loss @ 2.03

Swing Trading Plans for NKLA

• Buy NKLA slightly over 2.02, target n/a, Stop Loss @ 2.01
• Short NKLA slightly near 2.02, target 0.94, Stop Loss @ 2.03.

Day Trading Plans for NKLA

• Buy NKLA slightly over 2.02, target 3.35, Stop Loss @ 2.02
• Short NKLA slightly near 2.02, target 0.95, Stop Loss @ 2.02.

NKLA Technical Summary | Raw Data for the Trading Plans