LMND is showing bearish divergence between RSI and price on the daily chart. MACD is starting to curl down, ADX is flat although still trending, and +DI is curling down as -DI is curling up. In the past, after rallies LMND retraced to find support on the 14-ema and 21-ema. I am a buyer on that zone.
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Share the love:
If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways.
Follow for more:
I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot!
***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
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Take a look at the difference in volume:
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Second fib level met. I believe more downside is coming:
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Support on the 14-ema. You may start scaling in if you want. I am waiting a little longer:
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That is a nice hammer candle on the retracement. Depending on what the next candle prints this could mean the short term trend could reverse. If you didn't get in on lower levels this is still a good time to start scaling in. Don't go all in because the reversal is not confirmed yet:
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$LMND daily resistance at $150. I took some profits here:
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Closed my $LMND position at $167 and bought back with an average price of $153. Now crossing my fingers the support holds. 🤞
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$LMND recovering from yesterday's drop. Glad I got back in at support.