$NKLA Sets Up Range Trade with Useful Shakeouts to Come

NKLA is one we covered a few days ago. We suggested a long off the pullback to the $22 area in mid-May, and then suggested ringing the register after the breakout on June 8.

That means traders should have sold the June 9 open, which locked in prices above $90. From here, we would look for a range trade likely to retest the $50 area, which may set up well for a new shot when it happens.