Nikola (NKLA) Stock In Breakout: Will it Hit $20 Soon?

Nikola (NASDAQ: NKLA) investors are getting emotional as the stock tries to establish an elusive bottom. Interestingly, considering the scenario that unfolded in Nikola, it is understandable if human emotions are involved since NKLA stock debates are often fiery. The stock exploded and delivered gains of 800%. Regrettably, for the bulls that waited too long to buy, the plunge was equally devastating.

Nikola (NKLA) Stock In Breakout: Will it Hit $20 Soon?

The argument now rages on whether the company is genuine or not. There is no out, according to the responses on social media. In debates, there are two extremes are battling it out, however, the bears seem to be winning the battle.

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The decision on whether to or not buy-on-the-dip is not easy, but it is uncomplicated. The truth is that there is no such thing as a price bottom. Therefore, the optimistic thesis is wishful thinking that the selling would cease. Investing NKLA stock now is being unrealistically optimistic, considering investors have been stuck in low traps for months. In the coming weeks, this is a stock to watch.

 

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.