Resistance

Million

Verge

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NKLA Stock price is moving upwards, trying to breach the key moving averages.</a> </li> 
 <li> <span>2</span> <a>Nikola stock price is on the verge of its most important breakout.</a> </li> 
</ul> 
<p>NKLA stock price is gaining momentum and trying to break above the 50, 100, and 200-day EMAs, indicating bullishness in the previous trading sessions.&nbsp;The stock has tested the supply zone near $1.68 multiple times, finding resistance and rejecting back. Buyers have regained their strength and are aiming for the $2.00 level in the upcoming sessions.</p> 
<p>The chart structure shows volatility in the previous months, with the stock facing multiple rejections from the supply range of $1.70. $1.30 acted as a support region, and the stock bounced from there, with the price trading in a narrow range.</p> 
<p>Furthermore, the stock’s trajectory shows that beyond $1.70, the zone is bullish, and a rally could be seen. But, if further rejection takes place, then the stock will continue to trade in the congestion zone. Similarly, below $1.17, bearishness could be extended.</p> 
<p>At press time, NKLA stock was $1.42 with an intraday loss of 2.74%, breaking below the 50-day EMA, showing bearishness in the last trading session. Moreover, the intraday trading volume also showed a decline of 46.477 Million less than the average 10-day volume of 68.544 Million. The market cap of NKLA stock is $1.216 Billion.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-nkla-stock-price-on-the-verge-of-breakout-strong"><strong>Technical Analysis: NKLA Stock Price on the Verge of Breakout</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-1024x466.png" alt="Nikola Stock: Will NKLA Stock Price Smash the $3 Level?" class="wp-image-173654" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-93.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: NKLA.1D.NYSE by <a href="https://www.tradingview.com/x/zDmT0ahJ/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Currently, NKLA stock price is trading around the 50 and 100-day EMAs (exponential moving averages), which shows neutral momentum.&nbsp;</p> 
<p>However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the NKLA price is expected to move upward giving bullish views over the daily time frame chart.</p> 
<p>The current value of RSI is 49.89 points. The 14 SMA is above the median line at 51.83 points which indicates that the NKLA stock is neutral.The MACD line at 0.0091 and the signal line is at -0.0274. A bullish crossover is observed in the MACD which signals strength in the momentum of the Nikola stock price.</p> 
<h3 class="wp-block-heading" id="strong-weekly-timeframe-analysis-big-moves-on-the-way-strong"><strong>Weekly Timeframe Analysis: Big Moves on the Way&nbsp;</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-1024x466.png" alt="Nikola Stock: Will NKLA Stock Price Smash the $3 Level?" class="wp-image-173653" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-92.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div> 
<p>On the weekly timeframe, big moves are expected in the upcoming days as a surge in buying volume is noted on the weekly chart. However, MACD and RSI indicators indicate neutral signals. If the <a href="https://www.thecoinrepublic.com/2023/09/23/nikola-stock-defends-1-00-level-will-nkla-stock-reach-2-00/" target="_blank" rel="noreferrer noopener">NKLA stock price</a> breaches $3.69, then some big moves could be seen in the stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>NKLA stock price is trying to rebound from the lower levels as it tried to breach the 50 EMA multiple times. However, key indicators like MACD, RSI, and EMAs are neutral right now. Technical analysis suggests that buyers are active in the Nikola stock and it can reach the level of $2 in the upcoming days.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels</strong>: $1.17 and $0.8369.</li> 
 <li><strong>Resistance Levels: </strong>$1.70 and $2.08.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

Nikola Stock: Will NKLA Stock Price Smash the $3 Level?

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