Nikola Consolidates 100% Jaunt North, Settles Into Pattern Above Bull Cycle Indicator
Portfolio Pulse from Melanie Schaffer
Nikola Corp (NASDAQ:NKLA) has been consolidating after a surge of nearly 100% on July 13 and 14, following an agreement with BayoTech. The EV-maker recently announced that Fortescue Future Industries will acquire Nikola's Phoenix Hydrogen Hub project, causing a slight increase in stock price. The consolidation is helping to bring Nikola’s relative strength index (RSI) down from the 82% it reached on Wednesday. Nikola has been trading higher recently and if it can remain above the 200-day simple moving average (SMA), it indicates a new bull cycle.
July 20, 2023 | 8:11 pm
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Nikola Corp's stock is consolidating after a surge, with its RSI decreasing. The company's recent agreement with BayoTech and the acquisition of its Phoenix Hydrogen Hub project by Fortescue Future Industries have impacted the stock.
Nikola Corp's stock has been consolidating after a surge of nearly 100% on July 13 and 14, following an agreement with BayoTech. The EV-maker recently announced that Fortescue Future Industries will acquire Nikola's Phoenix Hydrogen Hub project, causing a slight increase in stock price. The consolidation is helping to bring Nikola’s relative strength index (RSI) down from the 82% it reached on Wednesday. Nikola has been trading higher recently and if it can remain above the 200-day simple moving average (SMA), it indicates a new bull cycle.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100