Nikola Corporation [NKLA] Is Currently 1.80 below its 200 Period Moving Avg: What Dose This Mean?

Nikola Corporation [NASDAQ: NKLA] gained 1.80% or 1.13 points to close at $64.06 with a heavy trading volume of 20814049 shares. It opened the trading session at $65.09, the shares rose to $68.9799 and dropped to $61.40, the range by which the price of stock traded the whole day. The daily chart for NKLA points out that the company has recorded 521.94% gains over the past six months. However, it is still -545.77% lower than its most recent low trading price.

If we look at the average trading volume of 7.35M shares, NKLA reached to a volume of 20814049 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here is what top equities market gurus are saying about Nikola Corporation [NKLA]:

Cowen have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2020.

The Average True Range (ATR) for Nikola Corporation is set at 9.88, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 52536.90. The Price to Book ratio for the last quarter was 7.97, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for NKLA stock

Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.46. With this latest performance, NKLA shares gained by 193.45% in over the last four-week period, additionally plugging by 521.94% over the last 6 months – not to mention a rise of 545.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKLA stock in for the last two-week period is set at 66.41, with the RSI for the last a single of trading hit 64.38, and the three-weeks RSI is set at 67.36 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 27.16, while it was recorded at 63.92 for the last single week of trading, and 14.63 for the last 200 days.

Nikola Corporation [NKLA]: A deeper dive into fundamental analysis

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