As we all know that LYFT IPO fell below the IPO price and is currently in the phase of forming supports for the longterm. As shown in the chart there is a major gap in the price which could be filled in near future.
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.
Updated View On LYFT (5 Apr 2019) Back Ground: Lyft shakeout is nothing but an attempt of the traders who didn't get it at IPO price and they want it cheap. So, we shall see the rise to continue. $1,300 to $1,310 region shall be acted as strong resistant too. Further bullishness movement will come in only after break out that 1300-1310 region strongly. So...
MMHVW - may be worth waiting to buy lower.
haha
LYFT threaten to sue JPM over short-selling, yes, a company that loses money and sold for $25bn!
$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: 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...
Todays IPO for LYFT was rather successful, suggesting that UBER could possibly top the $100bn mark. However, its too easy to get caught up in the noise, an IPO is an exit strategy!
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.
On it's IPO day, Lyft started trading at around $87.24 and reached a high of around $88.59, only to close trading at $78.29.