NKLA is currently a HTB (Hard to Borrow) stock with short interest clocking a rate of about 40% currently. Especially after the shorter's report came out, most retail traders have been left with a sour taste in their mouths. But due to higher consolidation and some sketchy price action in after-hours and pre-market; a breakout appears to be imminent.
First immediate resistance zone: $36.50 - $38.62
After this due to shorts either doubling down on their position or deciding to pull and cover, we could see a rather quick move all the way up to the $40 price range.
Price point of invalidation is around $30 a share.
Just do not burn yourself