$LKNCY – ADD WATCH: I Blew That One, but Not Really

Five days ago I had a pending order to buy this. At the time it was in its second contraction, down just over 8%. The last price actually went a penny or two over my order, but the ask didn’t match my bid to execute the order. After that it contracted further, down to 11.67%. Because it was greater than 10% I thought it was still too volatile and I pulled my order. I followed my rules, so I’m not beating myself up.

I’m not going to do a full analysis because all that from the first analysis still applies. The difference is, as mentioned, that second contraction went deeper than I thought it would. Today was an unexpected BO as I was looking for it to still tighten up a bit. Regardless of what I thought, today it made a big move on big volume closing well above the point of least resistance. Therefore, I’m putting it back on my primary watch. If it does the typical retest of the PoLR, I will get a second chance to buy. However, if not, I’ll just wave and watch it go.

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