Below are the downside targets for Luckin Coffee (LK).
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$34.88 (conservative target)
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$25.78 (mid-range target)
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$16.67 (extreme target)
The strong rise in the price from November 2019 to January 2020 is being matched by the current decline. We expect that the decline to the $25.78 level should be accomplished as a natural reaction to the prior dramatic increase.