LKNCY has made a powerful breakout from its accumulation zone. This breakthrough came on the back of strong quarterly earnings, positive net income, and growing revenue.
INTRODUCTION:
LKNCY is a strong rival of Starbucks in China. It is rapidly adding new stores, reaching the nationwide number of nearly 8,000. In contrast, Starbucks has 6,000 stores in China...
LKNCY closed above the 200 MA on the daily and the 50 MA on the weekly this week. It seems LKNCY is retracing to the local high which is also the 0.236 fib. The RSI seems a bit oversold but I think the target will be met.
Nothing I say is financial advice!
LKNCY Is in a bearish trend, despite being above the down trend line, a true bottom may be far away
In the short term although bullish action should come about as it repeats pattern in green
Price when trending along downtrends like this can continue for awhile is the main takeaway.
I think we are forming a bull flag and once we break resistance we are in a technical target to the area of 26 dollar. On the rsi we are also at a point where the rsi previously found support/resistance so if we could break that it would also be a good sign. This could offer a great long opportunity.
Nothing I say is financial advice.
It can be seen after the MA arrives and makes a small turn towards the upside, price immediately follows
This can be observed on the latest MA (yellow)
The price is within a Rising Wedge (a bearish pattern) but this observation of the MA's give me hope for a bull breakout, as can be seen with each MA in the past
Luckin denied wrongdoing in agreeing to settle while its U.S.-based lawyer did not immediately respond to media requests for comment on Tuesday.
After their founding in 2017, Luckin Coffee's hype and share price peaked around early 2020 as they broke out to rival global coffee icon Starbucks. Then Muddy Waters Research dropped a bombshell claim of falsified...
The tech-powered coffee chain may soon be ready for another public listing.
The Chinese coffee pioneer went on to achieve positive revenue growth despite the expected surge in its settlement fees and continued operating losses. More financial data from Luckin will be worth paying attention to in the near future.
Unexpected revenue improvement
On September...
