Long

$LYFT Breaks Downtrend Line

Updated

I thought I published this idea back on September 17th when I went long. I started with a ½ size position on that date. I added additional shares on Monday the 23rd and again yesterday to bring it up to a full-size position. I am now hoping it will consolidate some of these gains. This is one I plan on trading around, meaning I may take some profits and look to add back or if it does not fall below the 5 DMA (white) and simply consolidates there I may simply add. It looks to me that “could” run to the $15 area before hitting any resistance. All TBD.

On a side note, were I just seeing this, I would wait for some consolidation or a pullback before entering a position.

Ideas, not investing / trading advice.

Note

is succumbing to the market downtrend and losing steam here. I have sold 1/2 of my position with a breakeven stop on the remainder. So profitable trade no matter what. This is still one of my top ideas. but when the tide goes out it pulls all the water with it.

Trade closed: stop reached

Closed this morning @ 12.18. It was a hard stop entered into the computer.
It is still high on my watchlist. If I take the trade again or there is another set-up I will post a new idea.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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