WKHS is setting up for a short ( again) OR could it reverse ?
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.
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.
İşlem aktif:
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.
price action validating the trade and then moving the stop loss higher if price action
allows it.
İşlem kapandı: durdurma seviyesi:
WKHS faked me out with a dead cat bounce. Closed long went short.
İşlem aktif:
Watching only. HH and HL suggest a reversal will be checked further after the morning price action next Monday. No revenge trading allowed.
Yorum:
Shares added at 0.33 in the pullback earlier today near to the mean anchored VWAP.
Shares added at 0.33 in the pullback earlier today near to the mean anchored VWAP.
limit entry 0.01 above market for slippage protection on the order flow.