Some more info ...
Once I find a pincher I look back at the stock history for a similar pinch to try to gauge the percent the stock may potential move upward. In other words, what did the stock do under similar circumstances in the past.
Additionally, I follow MULN, SNDL, VEON these are high volume and offer a good opportunity when they pinch.
One more point if under $1 need to check for delisting and / or reverse split. Worst is being surprised with new financing. If a medical company and you look at 1 to 2 year chart you can see huge dilution, specifically price can go from hundreds down to pennies.
Anyway more than you wanted to know.