$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!
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