My play on LSPDAccording to my Elliott wave count, the zigzag correction has ended. For safety, I’ll wait until it breake above 41 before to go long.
I’m learning and post this for comments/feedbacks. So please don’t trade based on this.
0A8V trade ideas
Time to have the 1st buy for Lightspeed (TSX: LSPD) Looks like that the pullback of Lightspeed is complete. Time to have the 1st buy.
Upwards trend towards $46 with slight pullback at $41.5Finally broke $38, now heading towards next strong resistance area, $46
After good consolidation, it going to try to push over $38. The chart broke out of the ascending triangle pattern, retraced back to the breakout point, I think it was a healthy consolidation before going up. Looking forward to the cross $38.
Take a break and what's next?- Huge volume and price change to breakout last resistance
- Stopped at 37 which is second resistance, coincidentally was the last stock offer price by the company ($37)
- If breakout 37 again with momentum and strength, maybe a setup to run to 46
- Or consolidate between 30-37 until next catalyst
- My suggestion is to wait for effective breakout to get in
- Setup your stop loss and trade safe
testing line of supportLSPD testing line of support, usually every time it touches there is a nice bounce. Squeeze momentum indicator hasn't shown a reversal yet and same goes for the MACD. Based on market sentiment we could break the resistance. For me to convinced of a trend reversal i want to see a close above the 200 day moving average. If we do reverse we could be looking at 27-28% gains from the current position
Lightspeed - Bearish - Ready for the tend line break.So, the entire market is taking a big dive, and I think it's actually going to continue.
I actually did a lightspeed analysis last year, you can see it here.
As for Lightspeed, the industry sector index is the QQQ, and it just hit it's overhead resistance. You can see my post linked here, and the picture below.
According to the ichimoku cloud, we're heading down again. We're at least going to hit 33.20. And if we do, we should bounce off that trend line, at least temporarily. However, if we at all end up in 31.XX at anytime, this is going to dive, and we wouldnt' buy it again until it hit it's target of a the lower entry of the pennant. I've got fairly high conviction that what I've shown will happen. However, I havent' done an Elliott Wave count on this, because I dont' have the instruments to make this a truly juicy play.
HOW TO TRADE THIS:
Dont' trade it yet. Even though Lightspeed puts (June/July) would be decent, nothing is confirmed yet! We have to wait for confirmation of the trend line break and retest before shorting, or wait for a significant bounce (and some meaty candles like bullish engulfing etc) and some macro news (APPL / SHOP are killing it etc) before this is a confirmed 'long and ride.'
Honestly though, just buy SHOP!
Double-bottom post earningsA miss on earnings and a bought deal offering drove the stock down twice to the same level of support. Keep an eye out if the price action turns negative, but longer-term momentum is positive. The stock has a lot of believers, could move 10% to the upside quickly.
LSPD. Not yetI don't think we are ready to challenge higher highs. We need more time. Maybe a couple of weeks as buyers slowly step in...
Trade safe~
Hourly chart of LSPD RSI Divergence Watch your entry point, should be in this at $44-45 and target $48-49.
Short term strategy of Risk ratio 2.5, and 2 week long action.
PRE-EARNING PLAN FOR LONGJan 22 - if bounce off $40.35 and uptrend, buy 100 shares and SL $38.36
Jan 29 - if breaks $43.73 previous high and uptrend, buy 80 shares and SL $40.35
Feb 7 - if tests record high $49.2, sell 100 to take profit
Feb 26 - leave 80 shares to play earning, and stop loss at $43.73
Assume no gap up/down and buy and sell price is valid:
1) If SL at 40.35, Loss $289
2) If Take profit at 49.2, Gain $870
3) If Earning is sad, Gain $870
4) If Earning is good, Target $52. May go in more here
$50 here we come again!1. Hour chart retracement to $39-41 range short term ($40 is 0.5 level with tolerance of +/-1)
2. Reach $45 range quickly and may not even retrace here
3. Reach $50 range and expect to retrace to 0.5 lever from there
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Strategy here is:
1. Buy dip at $40, anywhere between 39-40 price would be good
2. Buy breakout at $43-44 if it is big green candle
3. Watch for $45 potential retracement
4. If breaks $45 then set sell target $49-50
This is my first time working on a very short term plan based on hourly chart, let's see how it works
By the way daily, weekly, trend line, GMMA, all pointing up and we are potentially onto something that may shine long term.
Lightspeed to reach 45$ then back down to 35$ before moon!LSPD will reach 45$ before a fall back down to 35$. That's your time to buy before the stock tests new highs.
I'm bullish long term on Lightspeed LSPD.
They have no competitor in their niche and their product is an easy sell for businesses around the world.
In 10 years, I wouldn't be surprised Lightspeed is worth what Shopify is worth today.
Lightspeed go up in lightspeedExpect to pull back and breakout $36 as early as Jan 2020.
Get in at $32 and $36 and should reach $45 and beyond by next April!
