WKHS is one of the most shorted stocks on the market right now, having rough 40% of it's float sold short.
Currently the technical chart looks amazing, with a bull flag being setup on top of huge accumulation volume. The dip was clearly bought, and now we've got a textbook bull flag with a huge gap left around $30 mark. If we breakout there's an extremely good chance we start running. We may may encounter resistance or bounce around 18.60, but above that it's clear skies until we fill the gap.
If we're lucky we may get a front row seat to a potential squeeze as well, due to the high short interest on the stock (not that it isn't justified). We've seen countless meme stocks and stocks with high short interest start running these past few weeks so I wouldn't be surprised to see WKHS follow suit once people catch wind of it.
All in all, we've got a relatively safe trade here. I'll likely enter a monthly position come Monday with a stop set around the 13.60 level. Happy trading!
Currently the technical chart looks amazing, with a bull flag being setup on top of huge accumulation volume. The dip was clearly bought, and now we've got a textbook bull flag with a huge gap left around $30 mark. If we breakout there's an extremely good chance we start running. We may may encounter resistance or bounce around 18.60, but above that it's clear skies until we fill the gap.
If we're lucky we may get a front row seat to a potential squeeze as well, due to the high short interest on the stock (not that it isn't justified). We've seen countless meme stocks and stocks with high short interest start running these past few weeks so I wouldn't be surprised to see WKHS follow suit once people catch wind of it.
All in all, we've got a relatively safe trade here. I'll likely enter a monthly position come Monday with a stop set around the 13.60 level. Happy trading!