Is Nikola Corp. technically bullish or bearish?

As of 9 September 2025, the technical trend for Nikola Corp. has changed from mildly bearish to bearish. The current stance is bearish with weak strength indicated by the daily moving averages and the KST showing bearish signals on both weekly and monthly time frames. The MACD is mildly bullish on both weekly and monthly charts, but this is overshadowed by the bearish signals from the moving averages and the Dow Theory indicating a bearish trend on the weekly. The RSI shows no signal on the weekly but is bullish on the monthly, adding to the mixed signals.
In terms of performance, Nikola's returns are significantly underperforming the S&P 500 across all periods, with a year-to-date return of -98.91% compared to the S&P 500's 12.22%. Overall, the technical indicators suggest a bearish outlook for Nikola Corp.