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ChristopherCarrollSmith

Lyft at upward trend line, looking bullish toward top of channel

Long
Lyft, Inc. (NASDAQ:LYFT)  
ChristopherCarrollSmith Updated   
NASDAQ:LYFT   Lyft, Inc.
Trend Lines Parallel Channel IPO Stocks
4
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trendline parallelchannel ipo stocks
Lyft is in the middle of its upward-sloping channel, and this week it's been following an even steeper upward trend line toward the top of the channel. Right now it's at the trend line, looking bullish for late today and tomorrow.
Comment:
Lyft is now at an all-time high since its IPO. With no more resistance levels, the coast is likely clear to channel's top.
Comment:
Whoops! That's not an all-time high; I had my chart zoomed wrong. Still, pretty clear sailing up to at least $66.12. Will meet resistance from $67.15 to 67.86. If it follows the trendline all the way up, it could get as high as mid-$70s before bouncing off the resistance level there (and the top of the channel). Sell if the trendline breaks.
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