CookieMonsta

Lyft amazing buying opportunity

Long
NASDAQ:LYFT   LYFT INC
There is a lot going on in this chart but there are a couple things i would like to put an emphasis on for Lyft. First, notice that we are in a massive falling wedge structure, generally indicating a breakout upwards. Second, notice the red line i have drawn at the bottom of this descending wedge . This red line could be considered a major support level , as it acted as both support and resistance back in May. Third, notice the MASSIVE bullish divergence on the 4hr RSI . Finally, notice that the fib retracement .786 level matches up in confluence with the red line major support I have drawn. All in all, I think it is safe to say we will be seeing a larger reversal for Lyft in the coming weeks. Don't miss out on this amazing opportunity.

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Comments

What about the early lockout exp tomorrow...effects?
Reply
@BAMPOWER, I was not aware of that. Thank you for bringing it up. The lockup expires August 31st, still have some time before any major FUD should hit. TA > FA in my opinion. But this may not be something you would want to hold long-term.
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