LYFT Downtrend Range 2HR
LFTY has seen a downtrend range since March 21', and keeps making lower lower and lower highs. Chart may look a little messy with the VPA, but here are the notable things about this pattern:
-Both support and resistance have had 2 high touches, with the 2nd touch nearing the resistance (support has had 3 touches)
-The ellipse shows a Head/Shoulder formation, with the neckline confirming a sell on the break, further rolling LYFT down the hill
-VPA suggests that the downtrends overall POC (shown in yellow) and the green POC show a average POC of $54.40-ish
-Red VPA suggests there will be a battle of $50.50, however, most of this volume was realized this last earnings call - nearly 425k to be precise, so 'battle' might be closer to $48.48 (in between red and green POC's)
-Nov. 5th gap. Historically, LYFT has had a decent rate of filling the divots, I expect this to not be different.
-MACD in stagnant divergence over the past few days.
Nevertheless, I believe LYFT will follow the trading bands for the moment, possibly making another touch on the support.
-Both support and resistance have had 2 high touches, with the 2nd touch nearing the resistance (support has had 3 touches)
-The ellipse shows a Head/Shoulder formation, with the neckline confirming a sell on the break, further rolling LYFT down the hill
-VPA suggests that the downtrends overall POC (shown in yellow) and the green POC show a average POC of $54.40-ish
-Red VPA suggests there will be a battle of $50.50, however, most of this volume was realized this last earnings call - nearly 425k to be precise, so 'battle' might be closer to $48.48 (in between red and green POC's)
-Nov. 5th gap. Historically, LYFT has had a decent rate of filling the divots, I expect this to not be different.
-MACD in stagnant divergence over the past few days.
Nevertheless, I believe LYFT will follow the trading bands for the moment, possibly making another touch on the support.
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.