I have been doing this for nearly 25 years and I try to keep it simple. I look for two things:
1) a catalyst that can send the stock higher or lower and
2) a high potential technical signal
Catalyst
NKLA is in the EV space and right now there is a ton of money flowing into this space. They also have a watered-down deal with GM who has just announced they are going full throttle in electric vehicles. This alone should send the stock higher.
Technical
7-day MA average crossed over signaling a buy and I am targeting a move above the 200-day MA to $25 (representing approx. a 17% move). At that point you can close the position outright or take half off and let the rest ride.
1) a catalyst that can send the stock higher or lower and
2) a high potential technical signal
Catalyst
NKLA is in the EV space and right now there is a ton of money flowing into this space. They also have a watered-down deal with GM who has just announced they are going full throttle in electric vehicles. This alone should send the stock higher.
Technical
7-day MA average crossed over signaling a buy and I am targeting a move above the 200-day MA to $25 (representing approx. a 17% move). At that point you can close the position outright or take half off and let the rest ride.
Trade closed: target reached
I will be closing half the position and let the profit ride for a whileTrade closed manually
closed trade completely
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.