LYFT BounceLYFT has run up into resistance, which is now only its third test. Its run up into resistance was on declining volume. It also is exceeding its average true range and needs the moving averages to catch up before it can continue the trend. This points to a bounce off resistance leading to a pullback to the moving averages.
4LYFT trade ideas
LONG LYFT POTENTIAL 30% UPSIDELYFT starting to move after a POST IPO dump.
Looks good on the long side taking into consideration UBERs recent move above its IPO level.
Entering the Food business, I believe further government regualtion will be good for the stock.
Potential double bottom, trade into $50 resistance level.
Lyft Stock Analysis with Technical AnalysisPrices are moving inside a channel. The idea is to hold.
Option 1 only if the resistance of 33.5 USD will be broken, otherwise Option 2 might be the most likely to happen.
Just hold for now and see what will happen at the level of 33.5 before making any decision.
Always check UBER stock to have a better understanding of this stock behaviour.
LYFT to lift off?I like how this thing is shaping up with a bottoming pattern (dare I call it inverse h/s?!) No, it's not perfect, but if you need perfection to trade, then look elsewhere.
My dowsing/intuitive method gives me 2 indications of a longer term trend reversal (up), so wth, let's try it.
I like the test today of the prior highs/trend line from above... Needs to get above the downtrend line, but entry today and stop at a close below the 50 day.
I also expect a big pop in indexes, so that could help her get going through that symmetry resistance at yesterday's hod.
$LYFT trade idea... down channel breakoutLYFT attempting to break out of its down channel that it has been trading in since June. We need too hold the point of control @ 30.00 in order to successfully breakout. There was positive news this week for LYFT, a potential catalyst. Uber, Lyft rallied on Thursday after California appeals court delays business model change