LMND Lemonade has been basing in stage 1 - the bottom, for the past two years. It is currently at a major resistance that has been hard to break in the past.Once it breaks through the resistance around $25, it will mark the beginning of stage 2 - the uptrend. Beware of false breakouts, though.
It is currently beginning to enter overbought territory, so I would caution against chasing the stock.
If I have a position, I would take some profit, just in case there is a hard rejection and a pullback from the resistance.
If I don't have a position, I would wait for either a breakout and subsequent retest of the major resistance to take a position, OR in case of a rejection, wait for it to come close to the support region/POC area.
The support, resistance, and targets are shown in the chart.
I have no position. Just helping someone.
As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.