$PHUN Trade PlanBuy Zone: 5.00-7.30
Long Entry Order at 9.55
1st Target Zone: 14.50-16.00
2nd Target Zone: 33.00-36.00
Exit Trade at 4.50
IPO
LYFT - hypeioNot trading this one, but LYFT IPO recalls memories of Facebook going public. Same huge hype, multiple times oversubscription, retail traders jumping in on first day of trading and then getting f*****d.
I have a suspicion Lyft will go even lover from this $60 level. Good luck.
$LYFT - daily chart & trading analysis$LYFT - has been an awesome ticker to day trade the last week since its IPO on the 29th. Hit the short side the first couple days and nailed the red to green on day 4. Tickers like these that are moving irrelevant to the market conditions have had the most luck in follow through. Today we had another nice selling off action, with an ORB short setup at the open, along with nice follow throughs on the bear flags.
Easy trades are coming to an end with it trading in its range now. Waiting for a break of consolidation of either highs or lows for some more movement. $LYFT has also put the pressure on Uber to pick up their socks and continue their expansion to other regions (India & Asia), will be interesting to see how these two big dogs go head to head over this year.
Earnings season is approaching next week. For me, this signifies the market will be a little stale this week and have less follow through / momo names on our scans that previous weeks & months. Nonetheless, just taking smarter & cleaner setups, dialed down risk a bit as well as amount of day trades taken daily. Going to be looking to get hungry and aggressive next week for the remainder of the month.
Have a great day!
LYFT - $65 and the GAP Continuing with the IPO week for LYFT, here are a couple of new scenarios that may play out ...
Its my belief based on the chart / price action, that this recent LO will determine what happens at the GAP, should price reach it:
Either:
A. The current LO is in place, then a revisit to the GAP (and fill) may show as a pivotal resistance point, temporarily. And then make a valid attempt at the IPO day HI.
Or
B. A new LO ($65 or less) would have the GAP play out (if it tests it) as resistance, before seeing declines to prices of $60 and $50.
LYFT - Priced to fall 20% and lower ???After 1 day of trading, here is a forecast of potential trading action moving forward.
If LYFT catches a bid on its second day of trading, I'd expect a run to test IPO day HI and trap BULLS before a move lower to 70/69.
Otherwise, selling continues down to 69 or lower with any retraces only acting as stall points - 20%+ down from its HI's.
LYFT JUMPS 20% ON IPO DAYOn it's IPO day, Lyft started trading at around $87.24 and reached a high of around $88.59, only to close trading at $78.29.
$UXIN to set a new 52-weeks high$UXIN, a high-risk and high-return equity, with desired share price and shares float, to most likely set a new 52-weeks high due to its solid low supports, and gaining volume and momentum.
FB 2013 IPO similarities.It mirrors IPO action in the RSI and price action. I think we are entering the continuation of the bear market.
Please see my $DRIP chart here for full analysis:
Earnings Stock of the Day: VERIVERI is reporting earnings today and was chosen to remind traders that IPOs are not usually profitable. It is very rare to have a company that IPOs with high profits and revenue. Therefore, IPOs are generally speculative as this stock was. It IPO’d around the summer of 2017 and ran up for a month to a new all-time high. Retail investors and smaller funds drove price upward due to HFT activity and the encouragement of financial advisors. AccumDist shows smaller funds buying speculatively, creating the momentum run of August into September. HFTs created the huge black engulfing candle at the peak. Smaller funds and the retail crowd “bought on the dip” and have lost a lot of money since then. Preferred Clients sold into the speculative gains.
It is now near the low that should provide stability to the downtrend and eventually commence the bottom formation. There is no bottom yet as there is no Dark Pool Buy Zone™ yet.
There are no major companies reporting today. It is all small to mid-cap companies. Earnings Season is in the final days of reporting.
Earnings Stock of the Day: ROKUI started monitoring this stock shortly after it IPO’d as it appeared frequently on the large lot pre market activity list as Dark Pools accumulated this IPO early on. Roku Inc. is in the Communications Services Sector under the Pay TV Industry. It is a new young public company challenging companies like NFLX with a new form of streaming video content for consumers. ROKU reports its earnings today after the market closes. It's stock chart shows it is now in the typical and expected IPO correction pattern. ROKU weekly chart shows it is finding support from the IPO correction that started late December of 2017.
XIAOMI IPO - oh, snap!Many people ask me about my thoughts of Xiaomi IPO and what i think is:
I personally like/love Xiaomi products. But i will skip this IPO and continue specializing on the small tech IPOs.
What i think of IPO as investment:
- Overcrowded (mostly with people who don't participate in IPOs)
- low demand (read latest news, price range reduction).
- its from China (look at falling china indexes - bad IPO timing)
- risk of future in US-market (ZTE-risk, Apple copy-cat etc.)
- no profitability NOW (but really high revenue - is key for future)
Long-term - might be very good (due to really good products), but in that case i will wait for 1 year to see how the market reacts to this stock.
AS a result, please look at Snapchat Chart. Imho it will repeat for the Xiaomi too. First day/week hype - and falling into abyss.
China Mobile: If you have to own 1 name...If you have to own one name today right now, this is IT. Boring old cash rich China Mobile has been trading in this channel since 2009 and this is the 3x time 941 is testing the lower end of the range. There is 5% to pick up before it hits the 1st resistance and potentially +35% if it tests the top of the range. To sweeten the deal, if you hang on till the end of the month, specifically the 25th, the kind folks at China Mobile will cut you a check for 2.1% yield. If you need more convincing, China Mobile owns 38% of China Tower which just filed for a $10bn IPO in HK. State-own IPOs in HK are just like butter on popcorn, nothing will taste better than China Mobile when China Tower starts popping on IPO day.
The Fundamental reason for NIO weaknessNIO's IPO was welcomed with much fan fare but has weak since close of its second day trading. I'm watching a tight 4hr pattern here, but coming across some fundamental information has me leaning bearish on this stock.
As for the fundamental news, the author of the article linked below poses the $12 billion question:
"A question. Is the untested EV startup NIO without its own plant, or manufacturing license, backed by Netease, an internet gaming company, with its $1.67 BV/Sh and $12B market cap, really worth a 60 times higher Market Cap than time tested profitable NASDAQ listed Kandi Technologies, (KNDI) with only a $200 million market cap?"
finance.yahoo.com
Eventbrite IPO ($EB)Eventbrite IPO
Ticker: EB
Starts trading this week.
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Classic Semi-Tech IPO.
Great revenue increase YoY since 2016.
Good market cap.
Expecting IPO at $24 and $30+ at first day of trading.
We are in the Bull market, so buy it if you can.
