LYFT - ShortWhats up Traders -
Made a nice trade on Lyft last week . . Following up on it this week with a swing trade.
We're looking at Lyft Puts - $30 - 7/24
Theyre currently trading at about .80c giving us a solid 2.5x RR for the trade.
Seeing a break in the uptrend and expecting us to re-test lows. I doubt we will hold this option full term, but i am prepared to.
Let me know if you have any questions or see things differently.
Lyft
Waiting for Pullback to Short.Lyft is still on major downtrend. IF you are keen, you may wait for a pullback to short this counter. I have draw 2 channel (blue major downtrend & Red temporary uptrend).
If the price breakthrough blue channel, downtrend will be invalid. therefore SL can set anything above the blue channel.
Short @ $38
SL @ $44
TP @ Ride with the trend
LYFT BreakoutAfter our March low, we've rallied +140% off the lows and formed a huge ascending triangle. Given our bullish momentum, it's likely we continue upwards into the green zones highlighted around the $40 and $47 marks.
RSI is not oversold and has been coiling, which shows signs of momentum heating up with plenty of room of run. If we break out from here, there is a high probability we fill the liquidity void above us in the $40-$50 range. Watching this one closely.
First target: ~$40 for a 20% gain
Second target: $48 for a 50% gain.
Uber vs Lyft - Technical AnalysisUber and Lyft seem ready to go up to the price level that they had before the virus.
The Idea is to Buy Uber or Lyft, just wait the right time as Uber might start a retracement price.
It seems that there might be more margin investing in Lyft as it should go up to close the gap with Uber (Uber is moving uptrend, while Lyft is moving sideways).
UBER Technical and Fundamental Analysis - Short termNYSE:UBER
Based on Technical, but mostly on fundamental analysis, Uber, for a short term analysis should go down.
UBER has to face a lawsuit claiming its illegal predatory pricing and other anticompetitive practices killing competition, including the accusation of secretly booking and cancelling rides on competitors' app.
Lyft keeps following UBER and Vice versa, it might imply that the Uber's fundamental information did not have anY impact on the priceS or, the Uber's prices already take in account in the fundamental information (BEARISH MARKET) and that Lyft stock tend to follow UBER.
LYFT - FAKE UP-TRENDLINE BREAKThis is a company which in these times
quarantine demand has increased
like UBER, which positions it
among the most valuable companies in matters
mobility, which gives me to understand that this
movement you're having is just a throwback
to trick sellers into believing
to change the trend, when simply
will make a correction and continue its course to the upside
possibly making a higher stop (HH)
In the next weeks
$LYFT - possible opportunity if you missed the breakout in UBERTicker:
$LYFT
Notes:
LYFT didn't clear it's resistance level yet (that's been in play for weeks) - UBER cleared it's on Friday. If UBER is strong tomorrow, you can possibly get a nice entry in LYFT! I'll be stalking both of them - in addition to a few other things - TOMORROW!!!
xeenos trading - sending positive energy to all those watching
LYFT "Rising Wedge Pattern"What I'm seeing here is a Clear Rising Wedge Pattern.
LYFT is also one of the hardest-hit industries by the COVID-19 virus with fewer and fewer people using their services due to quarantine measures implemented by the government.
That's why I think we are yet to hit bottom on the bear market for LYFT. And that's what makes me think this Rising Wedge Pattern that's forming is exactly what I think it is.
L
LYFT Testing Final Support LevelTrade Background:
Price plummeted sharply after Q4 earning due to poor guidance to profitability. Now price has once gain for the third time return to test final support level of the trend. If price fails to break lower, look for a swing to the upside.
Trade Idea:
Entry: 44.50 to 46.00
Stop loss: 43.00






















