$NKLA looks dead, so why the accumulation

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Chart looks so bearish, but what do we have in the volume range? Looks like big buys are coming in. Volume has spiked. RSI is bullish. MACD is reversing. Last time it did this, it entered a bearish consolidation phase.

It's at the bottom of the regression channel. This week seems to be the week that we move down another leg, consolidate, or move up. What do you think?

Not trade advice.

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Still trading the way down, but accumulation today makes me wonder.. The current red candle isn't greatbut those two green candles into were strong volume.... the sell off continues

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my idea has reversed, i'm bullish now

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consolidating here as well.... with TSLA getting marked as a sell this week by institutions, this is interesting. paper moving over to other EV plays?