LYFT Inc
Intraday - We look to Buy at 12.19 (stop at 8.59)
Daily signals for sentiment are at oversold extremes. Prices expected to stall near trend line support. We expect a reversal in this move. Dip buying offers good risk/reward. A higher correction is expected.
Our profit targets will be 22.86 and 29.00
Resistance: 23.00 / 45.00 / 66.00
Support: 12.00...
Nice setup in a bull channel with 2 bottom, holding EMA 38.
With upcoming Earnings we may see strong IV.
1 Target 67 $ (may be a good call option till 10 may expiration)
2 Target 78 $ can take some time but its possible
(1W Timeframe)
Several clues point at the same outcome: reversal trend and Bullrun incoming!
- We can see a break of the downtrend with higher lows that will invalidate the bear market if we can close this W with a higher high. Keep in mind that there's a big resistance zone (red zone) that could push the price down to the yellow zone.
- 50 ema already crossed...
LYFT has had nice earnings this year, and from a technical perspective is looking bullish according to the charts. We'll see if it has the strength to break above the $41.50 resistance and make a move towards $48 - $50.
After 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...
wth lunch of B.C into the ride hailing ... there seems to be some ground shifting ... could be a potential turn around for Lyft and Uber . lets see how the chart signals this in short term
Watching the 4 hour candle close for an A+ rare trade where, after short pullback, long wick candle rejects the Pivot, AND the 14 EMA, WHILE CROSSING the 50 EMA. This looks like a picture perfect setup ladys and gents
I'm sure the price is going to hit the resistance $72 area, it's ~ 10% of profit if you buy today. Or if you have your enter target like I have ~ $62 we will do more than 15% profit.
Time Frame : 1D
Resistance ~ $72
Support:
~ Uptrend line
~ Support EMA lines
Enter: $63-61
Stop Loss ~ $58.5
TP 1 ~ $73
TP 2 ~ Maybe it will be pumped like TLRY or TSLA....
There will be fomo on this, and the calls will also be fomoed.
- Nice organic inverse head and shoulders
- Consolidation above neckline in a bull pennant/ ascending triangle
The targets are above, I believe it will go to 70.50 and correct to 68. After that I will evaluate.
This is a beautiful setup!
Pattern: Bullish breakout of inverse Head and Shoulders
Edge: No outside edge since this stock just IPO'd a few weeks ago. We are just trading the pattern.
Risk Management: Bought at $62.92. Stop below $58.52 (below the 20 day moving average). PT1 is $73, PT2 is $78 (gap fill), then open target for the remainder of the shares.
