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