Anyone remember FB IPO? Just look at LYFT, both are classic pump and dump IPO's. So far they are like mirror images of each other and so could expect .
Before buying LYFT consider that FB only started basing after it finally started had a positive earnings report and a breakout above the 200sma.
Continuing with my previous plan (The GAP), this stock is still going to make attempts at $50.
Here are some places where I am looking for a reload of either a shorter term play and/or more of a positional play, IF, the move doesn't just continue down to the original target LO of $50.
As much as I do not follow text book setups, sometimes they do match up...
I like Pinterest as a product, but I don't participate in this IPO.
The main reason is the market doesn't like social networks IPOs:
My expectation is +30-40% in first trade day, maybe this will even hold strong at first quater, but then the financial result with estimates of -1.6 EPS will do the thing, -1.135 billion spending will make it...
Since Lyft went public it has had a straight up beating to its price. Still looking for lower prices. Looking for a retest of 67$ and then targeting the 45$ price level which would mean a 50% decrease of its initial price at offering.
Not trading this one, but LYFT IPO recalls memories of Facebook going public. Same huge hype, multiple times oversubscription, retail traders jumping in on first day of trading and then getting f*****d.
I have a suspicion Lyft will go even lover from this $60 level. Good luck.
$LYFT - has been an awesome ticker to day trade the last week since its IPO on the 29th. Hit the short side the first couple days and nailed the red to green on day 4. Tickers like these that are moving irrelevant to the market conditions have had the most luck in follow through. Today we had another nice selling off action, with an ORB short setup at the open,...
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:
A. The current LO is in place, then a revisit to the GAP (and fill) may show as a pivotal resistance point, temporarily. And...
After 1 day of trading, here is a forecast of potential trading action moving forward.
If LYFT catches a bid on its second day of trading, I'd expect a run to test IPO day HI and trap BULLS before a move lower to 70/69.
Otherwise, selling continues down to 69 or lower with any retraces only acting as stall points - 20%+ down from its HI's.