NIKOLA CORP. - 1H - Technical analysis published on 06/21/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
78%
11%
11%
My opinion
Bullish above 1.218 EUR
My targets
1.281 EUR (+1.40%)
1.626 EUR (+28.74%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NIKOLA CORP. as long as the price remains well above 1.218 EUR. The buyers' bullish objective is set at 1.281 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.626 EUR. If there is any crossing, the next objective would be the resistance located at 1.998 EUR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NIKOLA CORP. rating 1.263 EUR. The price has increased by +10.69% since the last closing with the lowest point at 1.220 EUR and the highest point at 1.323 EUR. The deviation from the price is +3.52% for the low point and -4.54% for the high point.1.220
1.323
1.263
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of NIKOLA CORP. in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.765 | 1.131 | 1.218 | 1.263 | 1.626 | 1.998 | 2.718 |
| Change (%) | -39.43% | -10.45% | -3.56% | - | +28.74% | +58.19% | +115.20% |
| Change | -0.498 | -0.132 | -0.045 | - | +0.363 | +0.735 | +1.455 |
| Level | Major | Minor | Minor | - | Major | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.955 | 1.022 | 1.082 | 1.149 | 1.209 | 1.276 | 1.336 |
| Camarilla | 1.106 | 1.118 | 1.129 | 1.141 | 1.153 | 1.164 | 1.176 |
| Woodie | 0.951 | 1.020 | 1.078 | 1.147 | 1.205 | 1.274 | 1.332 |
| Fibonacci | 1.022 | 1.071 | 1.101 | 1.149 | 1.198 | 1.228 | 1.276 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.268 | 0.194 | 0.702 | 1.164 | 1.672 | 2.134 | 2.642 |
| Camarilla | 0.943 | 1.032 | 1.121 | 1.210 | 1.299 | 1.388 | 1.477 |
| Woodie | -0.245 | 0.206 | 0.725 | 1.176 | 1.695 | 2.146 | 2.665 |
| Fibonacci | 0.194 | 0.565 | 0.794 | 1.164 | 1.535 | 1.764 | 2.134 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.024 | 0.249 | 0.411 | 0.684 | 0.846 | 1.119 | 1.281 |
| Camarilla | 0.452 | 0.492 | 0.532 | 0.572 | 0.612 | 0.652 | 0.692 |
| Woodie | -0.081 | 0.221 | 0.355 | 0.656 | 0.790 | 1.091 | 1.225 |
| Fibonacci | 0.249 | 0.416 | 0.518 | 0.684 | 0.851 | 0.953 | 1.119 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 61.42 | |
| MACD (12,26,9): | 0.0190 | |
| Directional Movement: | 20.684 | |
| AROON (14): | 28.571 | |
| DEMA (21): | 1.229 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.125 | |
| Elder Ray (13): | 0.085 | |
| Super Trend (3,10): | 1.113 | |
| Zig ZAG (10): | 1.308 | |
| VORTEX (21): | 1.0160 | |
| Stochastique (14,3,5): | 83.83 | |
| TEMA (21): | 1.207 | |
| Williams %R (14): | -6.44 | |
| Chande Momentum Oscillator (20): | 0.185 | |
| Repulse (5,40,3): | 2.1860 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0170 | |
| Courbe Coppock: | 9.54 |
| MA7: | 1.138 | |
| MA20: | 0.767 | |
| MA50: | 0.775 | |
| MA100: | 1.319 | |
| MAexp7: | 1.236 | |
| MAexp20: | 1.206 | |
| MAexp50: | 1.127 | |
| MAexp100: | 0.984 | |
| Price / MA7: | +10.98% | |
| Price / MA20: | +64.67% | |
| Price / MA50: | +62.97% | |
| Price / MA100: | -4.25% | |
| Price / MAexp7: | +2.18% | |
| Price / MAexp20: | +4.73% | |
| Price / MAexp50: | +12.07% | |
| Price / MAexp100: | +28.35% |
Quotes :
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15 min delayed data
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Germany Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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