Lemonade, Inc.Long
LMND - Squeezing Out Every Drop
I was perusing LMNDs websites and really liked the whole process so I went ahead and did some analysis on the stock to see if we can make some lemonade from lemons.
They were selling off pre-market drop and have been in a down trend ever since. ER report came in and they beat but dropped their forecast for the year seemingly continuing the selloff in progress.
With that in mind it makes it easy to see where the larger EW 1 began and then trying to forecast EW2 where we will hopefully get to see a bounce. My fibs in orange are the potential levels at it's current price, around 100. and then again around 75. The .681 fib level is usually when people start looking for a bounce. I really like it in the $100 area but getting it to drop to the $80 level where that second set of support (blue box) is at would be great in my opinion. There is also a possibility for a bounce at it's current price. I currently think it still has some more room to drop and will wait to enter in a position.
For fundamentals they still haven't turned a profit and analysts are mostly sour on them. In this market a profit isn't necessary but I think they need a good quarter to really get the 3rd wave going.
As always do your own due diligence before entering a position.
They were selling off pre-market drop and have been in a down trend ever since. ER report came in and they beat but dropped their forecast for the year seemingly continuing the selloff in progress.
With that in mind it makes it easy to see where the larger EW 1 began and then trying to forecast EW2 where we will hopefully get to see a bounce. My fibs in orange are the potential levels at it's current price, around 100. and then again around 75. The .681 fib level is usually when people start looking for a bounce. I really like it in the $100 area but getting it to drop to the $80 level where that second set of support (blue box) is at would be great in my opinion. There is also a possibility for a bounce at it's current price. I currently think it still has some more room to drop and will wait to enter in a position.
For fundamentals they still haven't turned a profit and analysts are mostly sour on them. In this market a profit isn't necessary but I think they need a good quarter to really get the 3rd wave going.
As always do your own due diligence before entering a position.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.