Luckin Coffee Inc (LKNCY)

[CycleTrade]

Blew through that $13.70 level and breached $15.00. $15.24 is the next level but would not be surprised if it pulled back to that 13.50 to 13.70 area.

That being said....We are in the New Age of the Short Squeeze. I don't think there are a lot of Shorts still in the stock but you never know. This thing could easily BLAST OFF!!


13.70 - April 2019 Low - Post IPO
15.24 - 50.0 Fib retrace from March 2020 Minor Breakdown High
16.90 - SIGNIFICANT LEVEL - 38.2 Fib Retrace of April Major Break High and June 2019 Support Level that was broken on Gap Down
17.84 - SIGNIFICANT LEVEL - Part of that same Support Level
18.61 - 61.8 Fib Retrace of March 2020 Minor Breakdown High
21.65 - March 2020 Low and 50.0 Fib Retrace of April Major Break High
25.00 - April 2020 Low the day before the Gap Lower and that JUST HAPPENED TO BE THE SAME PRICE OF THE IPO