Luckin Coffee Inc (LKNCY)

[Smilin_B]

Well, as you are all very well aware, the RSI on this stock is exceeding 85 so we are in or at the extremes of overbought.

But oftentimes trending stocks stay at the extremes of overbought when they are exceedingly undervalued. I do anticipate some type of a pullback and traders will most likely utilize tight stops on the first red candle.

I have not distributed any of my shares at all because I truly believe that within the next several weeks leading into the earnings report, there will be some type of an update or positive results from their audited financials.

"The Street" has been accumulating. Typically these fund managers do their research and due diligence behind the scenes and instruct their top traders to accumulate shares. The simple fact that we have not had a substantial retracement yet, means that there are more buyers than sellers.

As long as the chart goes from the bottom left to the upper right, all is well