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Updated: 13 February 2020

$LK (Luckin Coffee Inc.) is great stock that was dominated by bears at the end of January. Setting up with an H&S formation that can drive the price past the All Time Highs. Make sure you follow it and the entry has volume, might need a few trades. Do not load fully on one spot, probably take 50-70% on the first try then add on the move. We need a breakout with volume through the 39.20 area and a close on 40+ area.
Reasons to go long:
1. H&S
2. SMA 50 Holds
3. Massive Channel
Earnings – February 19th – BMO.

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

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