Why I’m Not Buying the “WKSP Needs a Retest” Argument – Here’s the Data

Some folks keep saying WKSP has to go back and retest the $3.70–$3.90 zone before making new highs. Respectfully, I’m not in that camp. Here’s why:

First off, that zone already saw heavy action – around 470K shares traded there on the first dip. That’s over 10% of the entire float. In Wyckoff terms, that’s a “spring” – a test of demand that gets bought up quickly. And that’s exactly what happened.

Second, check the On-Balance Volume (OBV). It never made a lower low during the pullback. If this was distribution, OBV should’ve cracked hard. It didn’t. That’s accumulation behavior.

Third, the borrow rate keeps creeping up – now over 62%. If this were setting up for a breakdown, you’d expect that to ease, not climb. Shorts are getting squeezed, not fed.

Technically, the daily chart just flipped full bull: 10-day > 20-day > 50-day moving averages. Bollinger Bands are tight, and that kind of compression usually leads to a big directional move. Given all the recent positive fundamentals, the edge favors that move being up.

I’ve got a stop at $3.20 in case I’m wrong, but based on the data, I’m staying long. The numbers don’t lie.

BAOS XELB CVM UAVS GAUZ GNLN HTOO WXM TGL CLDI AGMH WORX LUNR MULN NTRP ITP ABLV CIVB QTTB ABVC AKAN SPAI NEGG MP TTNP MP JFBR AMIX UPC CODA FAAS YHC PDYN WLGS AYRO ABVE CCIR ATRO RAY AMC JEM VTAK LASE ENVB LOBO NTIP BTDR RCT MLEC NVNI RYET ENFY MIST CIGL HROW HL CPOP AQB GIBO SLE HOLO TNFA GXAI BTCT POWW RCAT UMAC FRGT USAR CVM ZVSA WATT PSMT PLRZ BIAF CELZ RGC NB MLEC LEVI CGTX ICU VVPR JXG ABVE AIRO WDFC NTRP AIRO RAIN LMFA YHC BTOG CNET KTOS LMFA WIMI NRXS CALC CWD ONDS PRZO WBUY TLIH MULN COOT SGD WLDS CIVB ISPC ABTS CLBR VOR AIRO FCUV DRRX JUNS UBXG LUNR SHPH WATT ZENA UOKA NCPL BGL CERO RCAT UPXI AXIL SWVL CIGL NVVE FTFT AIM BMNR YTRA RLYB BTOG KWM TIVC WLGS RYDE BSGM KSCP APDN DUO SPAI NEXT OFAL SEGG HPAI FEIM WTO PRFX FAMI MDBH CAPT RELI BJDX ONDS ENTO MMA DFDV PDYN UMAC WBX LICN VANI SNGX LMFA UAVS PFGC SMX YIBO WAFU FEIM CCIR SMID ELPW SXTP TVRD SWIN GAUZ BTCS KLTO HSCS NA TAOP CUE