Nikola Corp for 17/09/2020

#Gold #WallSt It made sense, since his surname had been nicked, someone would use #Nikola Tesla’s forename for an electric vehicle company. In this case, the product is trucks, along with a dollop of controversy. A little issue of complaints to the US Justice Dept, along with the US SEC has ensured a fairly bumpy ride for the share price recently. In addition, gossip among internet chatrooms has been quite delicious, essentially open warfare between “true believers” and sceptics.

The company announced a partnership with General Motors and already have substantial partnerships with the likes of Bosch. The “true believer” camp points out, with a degree of sense, neither company would proceed with Nikola unless they’d conducted extensive research on the company. After all, corporate bodies never make mistakes, do they?

 

From our strictly numbers perspective, we have some doubts to the shares immediate potentials. Currently trading around 33 dollars, it appears weakness next below 30 dollars risks reversal toward an initial 23.5 dollars. If broken, hopefully the share price shall bottom and bounce eventually at the 16.3 dollar level. Of course, it’s unknown whether any bounce will prove capable of emulating Tesla, a company presently trading at 443 dollars but whose price once enjoyed languishing at the 7 dollar level. We’d certainly have grounds for concern, should events drive Nikola down below its previous low of 26.7 dollars as this effectively takes the share into uncomfortable territory, where our maximum bottom calculation is prefaced by a minus sign!

We have our doubts as to whether further reversals shall take place. Instead, we’ll be more interested should NKLA manage to trade above the 41 mark as this looks capable of triggering recovery to an initial 50 dollars with secondary, if exceeded, at a longer term (and potentially game changing) 65 dollars.

 

Perhaps worth keeping an eye on as a bunch of folk who missed The Tesla Boat are liable to jump on board this one.

Hey, chart goes here

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:25:27PM BRENT 42.68 Success
10:27:32PM GOLD 1959.78 1952 1947 1938 1961 1974 1978 1988 1961 ‘cess
10:40:01PM FTSE 6081
10:41:49PM FRANCE 5050.2 ‘cess
10:44:34PM GERMANY 13212 Shambles
10:48:18PM US500 3390 ‘cess
10:51:44PM DOW 28066 28010 27856 27682 28235 28240 28384 28698 28050
10:53:34PM NASDAQ 11275 Shambles
10:55:10PM JAPAN 23445

 

16/09/2020 FTSE Closed at 6078 points. Change of -0.44%. Total value traded through LSE was: £ 5,563,460,983 a change of 15%
15/09/2020 FTSE Closed at 6105 points. Change of 1.31%. Total value traded through LSE was: £ 4,837,644,674 a change of 35.92%
14/09/2020 FTSE Closed at 6026 points. Change of -0.1%. Total value traded through LSE was: £ 3,559,218,269 a change of 1.56%
11/09/2020 FTSE Closed at 6032 points. Change of 0.48%. Total value traded through LSE was: £ 3,504,460,601 a change of -8.69%
10/09/2020 FTSE Closed at 6003 points. Change of -0.15%. Total value traded through LSE was: £ 3,837,937,083 a change of -13.67%
9/09/2020 FTSE Closed at 6012 points. Change of 1.38%. Total value traded through LSE was: £ 4,445,872,932 a change of -0.63%
8/09/2020 FTSE Closed at 5930 points. Change of -0.12%. Total value traded through LSE was: £ 4,474,047,176 a change of 45.17%

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