234Trader

LYFT - $65 and the GAP

NASDAQ:LYFT   LYFT INC
Continuing with the IPO week for LYFT, here are a couple of new scenarios that may play out ...

Its my belief based on the chart / price action, that this recent LO will determine what happens at the GAP, should price reach it:

Either:

A. The current LO is in place, then a revisit to the GAP (and fill) may show as a pivotal resistance point, temporarily. And then make a valid attempt at the IPO day HI.

Or

B. A new LO ($65 or less) would have the GAP play out (if it tests it) as resistance, before seeing declines to prices of $60 and $50.

Apr 05
Comment: Option A is playing out so far. Hit the GAP area....I expect some resistance, but only temporary.
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