NASDAQ:SECO . 5M float. AI sector. Short squeeze candidate. Book value: $18/share. Currently only a $7M market cap. IMO this is a multi-dollar stock. red exercise pill or blue exercise pill?
After having a pull back the stock seems to hold support and it might continue bullish as volume and interest seems to increase. (this is not financial advice, please do your own research.
PIK went up today (3/17/2022) from $1.80 to $3.39 and I believe that this is going to go up to .55 cents and then break out like $PIK did today! China support to American stocks + Apparel Squeeze GGWP!
Diving into Wyckoff and market structure, and here's what I see in $SECO. Haven't incorporated volume yet, but it just ran all the stops on the downside and is squeezing back up through a solid block of covers between here and $0.40.
I welcome any corrections or additional info. Ridiculous max upside on this one.
The January effect describes the bounce in small stocks decimated by end-of-the-year tax selling. $SECO traded briefly above $3 in March 2021 and has been on a downward trajectory ever since. However, in early Dec. it capitulated and bounced just above $.50 on high volume. If it can break $.55 then Secoo has potential to run imo.
