Following the technicals of WKHS

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Technical Analysis

WKHS is a type of stock I would not normally write about. Its a stock that has come down so much over the last few years that it has even seen reverse stock splits. The last one occurring this year at a rate of 2/25 shares. That’s not good. However, I think with recent news in the political world about the Trump administration looking to expedite electric air vehicles, WKHS has stepped back into the light a little bit. We saw this last week when it popped off nearly 340%. That’s a parabolic move. You can see this on the below chart.

Now this is something you need to be very carful in and not just fomo yourself in. As you can see on Friday, in the daily chart below, WKHS jumped almost 95% but then closed about 20% down from that high. Now, one still can’t complain about a day with 75% gains. What I like about WKHS so far is that we have seen multiple days leading up to this short squeeze where there were short gains that led to these big gains. I even like where it closed on Friday at $4.42 because if you follow that green line to the left, you can see a nice little support ridge where the last time the stock was this high.

If you are not in WKHS, this would be VERY risky to dive in on Monday, 7/14. As I zoom out a little bit further on the daily chart below, you can see WKHS is no stranger to quick pump and dumps. We tend to see these on penny stocks. This article is more of a PSA on learning self control when it comes to these stocks. If you believe in the company, more power to you, if your looking for a technical buy in, than I would be careful in this range. Monday may be a good day to sit on the sideline and see where it opens and how the market plans on either taking profits, or boosting the next leg up.

I didn’t add any resistance or support lines in this article today because I don’t think it’s necessary yet. We will continued to monitor WKHS and if it starts to make consistent growth or puts out good PR, we can revisit the chart to see if any bullish patterns begin to form.

A Final Note

Pump and dump stocks are hard not to grab your attention. Whether its a well known stock or some unknown one. These are the stocks where fundamentals matter because there is probably a reason there was a reverse stock split and the price continues to drop with a low market cap.

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