LYFT
This is one that "XYZ" is interested in.
Its a company based in "ride sharing" - an online network of shared bikes and scooters
The chart looks quite reasonable - long term bullish divergence coming in from a downtrend.
The current wave up could be a Leading Diagonal that could form a higher degree wave 1 or A of an uptrend.
Regardless of which, the next wave down is most probabale to bottom in the retracement Golden Window between the 0.618 @$11.27 and 0.786 @ $9.61
Its not impossible for it to be a more shallow retracement but the contracting pattern is somewhat weak and so that is what is more likely.
The top is not yet confirmed and it could probe higher. Distribution resistance is just above and that is an attractive landmark for a shakeout reversal pattern.
If it does push higher then I will adjust the fib retracement.
...
Down on the day chart, LYFT had an earnings pump through the blue 500 day moving average.
We've seen shakeouts through the 500DMA a few times now and this further signals a significant pull back either here or after a further push up 👍.
Not advice
This is one that "XYZ" is interested in.
Its a company based in "ride sharing" - an online network of shared bikes and scooters
The chart looks quite reasonable - long term bullish divergence coming in from a downtrend.
The current wave up could be a Leading Diagonal that could form a higher degree wave 1 or A of an uptrend.
Regardless of which, the next wave down is most probabale to bottom in the retracement Golden Window between the 0.618 @$11.27 and 0.786 @ $9.61
Its not impossible for it to be a more shallow retracement but the contracting pattern is somewhat weak and so that is what is more likely.
The top is not yet confirmed and it could probe higher. Distribution resistance is just above and that is an attractive landmark for a shakeout reversal pattern.
If it does push higher then I will adjust the fib retracement.
...
Down on the day chart, LYFT had an earnings pump through the blue 500 day moving average.
We've seen shakeouts through the 500DMA a few times now and this further signals a significant pull back either here or after a further push up 👍.
Not advice
Bull Market Group 🐂
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
$50 per month 👍🏻.
Contact: t.me/dRends35