"House of Pinchers"

[Never_Post]

See the belthold candle sticks, focus on the up candles. This was typical for SNDL and VEON. What it means is that there is enthusiasm for the stock and the shorts let it run usually in the morning then they slam it down.
Though a bit difficult you can day trade these situations. Selling in the AM or Pre-market and buying back once they have dropped it significantly.
Easier to do if the stock is moving up. Try paper trades to see if it will work.

Looks like in the case of NEW they do it all the time however, low volume may make this strategy difficult to execute.

Also, ULT on my chart indicates that it is entering being oversold. Sorry if I repeat but I use the RSI(14) and or ULT to identify if the stock is oversold (one or both). Got burnt on a stock that was not oversold and was a falling knife beginning pincher that I thought was a mature pincher. So had to develop a mechanism to test for an oversold condition.



https://stockcharts.com/h-sc/ui?s=NEW&p=D&yr=0&mn=5&dy=0&id=p10899980878