WKHS is a mong the weakest of the EV stocks. On the 15 minute chart it has been trending
down in a descending channel. There has been substantial volume on the bearish only volume
profile albeit at higher prices. A small spike of selling volume while price is near to the upper
( resistance) trend line of the channel tells me that WKHS may move lower. Most of the time,
it is difficult to short a penny stock below $1.00 depending on the broker. The selling volume
tells me there are short trades underway. My idea however is to look for a reversal so long
and watch for a short squeeze to add into the rising price with more position. Probably will
not happen but it goes onto the watch list.
Trade active
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Since WKHS looks to be in an early breakout I took a long entry today. Watching for price action validating the trade and then moving the stop loss higher if price action allows it.
Trade closed: stop reached
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WKHS faked me out with a dead cat bounce. Closed long went short.
Trade active
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Watching only. HH and HL suggest a reversal will be checked further after the morning price action next Monday. No revenge trading allowed.
Comment
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Watching only. Looking for a descending channel breakout with confirmation. Upon that enter with a target of 0.29 ( 10-15%) setting a stop at 0.015 -.018 below the limit entry 0.01 above market for slippage protection on the order flow.
Comment
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Shares added at 0.33 in the pullback earlier today near to the mean anchored VWAP.