$LK (Luckin Coffee) – is a company with a great growth potential as shown by past performance in November to January. At the moment we are seeing that the prices has been slowly consolidating on the resistance that was last year and in case this area of 26-27 holds, we might get a trade with a longer term perspective. Consider 28.00 as a zone to search for a setup/pattern to go longs, otherwise we can see another test of the yellow trendline.
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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.