LY0 trade ideas
$LYFT: Taking a LYFT back to the gapHey there! This is my short-term analysis for $LYFT, feedback is appreciated!
My Reasoning:
# RSI is overbought.
# Elliot Waves: EW counts are subjective - some could count X amount of waves and some will count Y amount of waves. IMO we are on the 5th wave, but I could also see people saying we are on the 3rd Wave. Nonetheless, a corrective wave could follow.
# LYFT has fully recovered back to the channel it was housed in before COVID - Going above this channel (resistance) even though the company is still having a very hard time seems unlikely to me.
# Approached a major resistance (Pre-Covid Resistance) and momentum seems too exhausted to break it.
# MACD just turned Bearish.
# Huge gap with potential to be filled? Also, the gap is located just below wave 4 - and the ABC corrective waves typically fall below wave 4.
Have a great weekend.
Bearish divergencePlease note: I'm just sharing my view. its not a recommendation for buying or selling.
LYFT Primary Trend Reversal signs(1W Timeframe)
Several clues point at the same outcome: reversal trend and Bullrun incoming!
- We can see a break of the downtrend with higher lows that will invalidate the bear market if we can close this W with a higher high. Keep in mind that there's a big resistance zone (red zone) that could push the price down to the yellow zone.
- 50 ema already crossed the 200 ema (daily time frame)
- RSI increasing to almost overbought and getting out of the bear zone (30-50) to the upper part, hopefully, it'll stay above 50.
LYFT Ready for Lift Off?LYFT has had nice earnings this year, and from a technical perspective is looking bullish according to the charts. We'll see if it has the strength to break above the $41.50 resistance and make a move towards $48 - $50.
LYFT LYFT OFF Fundamentals :
-Unprofitable ride sharing company that got beaten in stock so bad that it's good (for buyers. Why do I say this? When there's so much FUD and stock prices get beaten so bad, weak hands are out and only true believers remain holding the bag. When an uptrend occurs , these believers don't sell hence it only goes up and up)
-Earnings actually showed improvement this time
-A lot of the price decline was due to constant fud + law suits of contractors vs employee - the win which was awarded to lyft = price growth
Technicals:
Trend Analysis:
-Clear upwards trend on weekly. Reversed to Lower highs and higher highs.
-200 Daily SMA GOLDEN cross with 50 SMA
-20/50 Weekly SMA about to have a golden (most definitely will)
- Tom Demarks weekly continuation
- Breaking above parallel lines
- RSI MACD positive
Are you gonna let it LYFT off with? or without you?
Long on LYFTCould the price maintain above resistance become support at $48.98? If so, the next resistance would be $54.65.
Example of a bad IPO playI drew this up for a user who asked more detail about the IPO playing strategy I have discussed before. It's important to look at the worst case scenarios (rather than the best case) when evaluating ways of trading. The guidelines are simple to base a trading strategy around:
Wait for the high of IPO week
Wait for the break
Take a pullback to that level
Risk management and trade management around these rules are up to the individual trader but those are guidelines that at least keep someone wanting to play an IPO out of trouble.
If a trader deviates from this plan they might get lucky, catch that falling knife, and be really happy at how "CLEVER" they were to get it at such a GREAT PRICE!
...But do that enough times and one time you'll become a bagholder.
Having a set SIGNAL and ENTRY keeps your trade DEFINED . It gives you something to base your risk and trade management. If you try to buy an IPO at an arbitrary price... where is your risk? Stock going to $0?
The key is for an IPO trader to avoid something like NASDAQ:LYFT which just never comes back. If you were to allocate capital to something like this it's easy for your capital to get destroyed because you really only have two hard price points of risk management:
Your maximum pain
Stock goes to $0
Neither are optimal situations for trading.
Have a plan. Trade your plan.
LYFT is a buy or sell in the next 2 weeks?After a sharp 130% move in 43 days, Lyft is now building a consolidation pattern.
Proper stop loss/ buy put option:46
proper buy stop/ call option:49
it is better not to trade between 46-49
Lyft lifting offAfter a long correction after its ipo. Likely this is the start of a bull run!! Previous highs seems reasonable.
LYFT Analysis Multi Time Frame Analysis #TradeIdea
Bullish Over: 44.64
Price Target: 51.06
Stop: 41.45
Contract: 01/15 50c
LYFT Fib 618 Reversal Play - The Basics!LYFT
Today's Date 11/28/20 800am
Plan: Bullish on Basic FIB 618 reversal play.
Linework:
Fibs from Oct 20 low to Nov 20 high (the Prop 22 runup)
Horiz Price Lines, note several touches as far back as April 2020.
"We've been here before"
The Nov 20 high is the same high as Jun 9 and Mar 5, we already see that rejection.
Fib 618 has caused many past reversals as rejection before. Now that we've broken out of that zone, I say it's a support now.
Set up an OCO Bracket play today. Buy around FIB 618, ride up to fib 786 or fib1 depending on strength of hands.
LYFT Chart Hey investors, LYFT is in a bullish channel with buy volume return and sellers wicking doji. Leaning on the TIMEFRAME M1 we see a form of doji with an unusual sales volume it is going to go to its last next lower. And turning around in this situation we can witness a test of the bullish channel with breakout of the price. While waiting for a breakout of the volume for the comfort zone and to leave the bullish channel for an aggressive buying acceleration.
Please LIKE & FOLLOW, thank you!
symmetrical triangle, declining volume, pt $44-45textbook symmetrical triangle.
i took 2020-12-18 C $41.5 today
$LYFT Bearish Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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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.
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.
