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LYFT INC. CL.A -,00001LYFT INC. CL.A -,00001LYFT INC. CL.A -,00001

LYFT INC. CL.A -,00001

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Trade Journal: Long LYFT - 2/4/2020LYFT has been setting up a nice Inverse Head & Shoulders pattern in the daily chart and had recovered from lows last year. LYFT had been lagging behind UBER and I saw an opportunity to get in full size into a potential breakout. Yesterday I went long UBER, however I held back from putting in full risk due to the market conditions. Today's action of QQQ and SPY is showing a bullish picture and the theory that I had about a short term bottom was true. What also is driving these speculative names is what I can only describe as delusion. There is a lot of delusion and greed in the market right now ( TSLA ) which is making these speculative names very spicy . I consider this trade a short term volatility trade and I plan to close most shares before LYFT's earnings report. Entry - 49.63 Stop Loss - 48.90 Target - 56.00
NASDAQ:LYFTLong
by Trader_Kaji
Long LyftToday lyft announced the reconstituting plan (www.nytimes.com) which drives the price down. Personally I think this is positive news rather than negative news since they are working hard toward profitability. The resistance is around $49-50 area I plan to scale in some soon and buy more if we break this resistance, the stop can be around $40-42. The target should be at least $70. If lyft can show consistent results in one or two quarters towards profitability, there will be more upside. Their current revenue growth rate of 60% with just 2x sale valuation provides good risk/reward for this investment.
NASDAQ:LYFTLong
by TraderSuperBull