1LYFT trade ideas
LYFT Bottom PlayGreetings traders. Today I noticed the daily candle perfectly rejecting broken downtrend line as well as rising channel bottom, and the cherry on top is the daily support level around 45.00.
It's only a matter of time before smart money catches on to this and the unwarranted PLUMMET in share price.
TIGHT STOP: 44.50 (catching knives is risky business) ...... PROFIT TARGET: 52$ (don't get greedy)
LYFT HEAD AND SHOULDERS CONTINUATIONLYFT HAS FORMED A CONTINUATION HEAD AND SHOULDERS PATTERN AS IT LYFTS OF ITS LOWS. PATTERN IS NEAR COMPLETION. I WILL BE WAITING FOR A CLOSE ABOVE THE 200 DAY MOVING AVERAGE FOR AN ENTRY POINT.
ENTRY $51.16 AREA ABOVE 200 DAY MOVING AVERAGE
TARGET $57.06
LYFT earnings push into $58?Long on LYFT from $48.25 after trend line breakout faking out short sellers. After hours earnings today, let us see if it gives that push into $58 target.
LYFT'S REVERSALSOMETHING SIMPLE... LYFT IS TRYING TO REGAIN IT'S IPO PRICE AT THE LEAST. WITH EARNINGS COMING UP TODAY AFTER-HOURS, HYPE SHOULD BE REAL. GREAT PRE-MARKET ACTION, SPY IS IN FAVOR OF THE UPSIDE. POSSIBLE TO SEE AROUND $58 TODAY AND $65 MINIMUM WITH GOOD EARNINGS.
LETS ACE THIS CALL.
$LYFT Weekly chartLyft Inc. (LYFT) is scheduled to reveal its Q4 earnings today, February 11 after the market closes. Weekly Chart
LYFT - breaking out!Like WORK, LYFT is breaking out after a long period of consolidation. Earnings on deck tomorrow and expecting better than analyst estimates. Looks better than UBER. Adding on pullback. RSI and MACD still good. Moving averages favorable.
LYFT gets a lift from Uber results
possible entry level $51.00
target price $57.00
Stop loss $49.00
Set to move in confluence with Uber today but may be a good long trade into earnings on the 11th feb.
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
Lyft Trade setup
Possible entry level $51.15
Target price $54.91 to Fibonacci 1-2 extension
stop loss $49.48
$LYFT Shares Break Out with Good Indications in PlaceLYFT shares broke out of range resistance on Tuesday. Ichimoku Cloud indicator has a full green light on the breakout at this point. Volume was strong, suggesting substantial participation.
LYFT - ready for lift off?Looks like a good H&S pattern and consolidation right at important FIB resistance. 20 day rising thru the 50 day and both looking for the 200 day above which is falling. I suspect this is going higher in this up trending market with not much resistance until $57-60 area. Nibbling here as it looks like a real break-out is coming. Volume picking up.
watch for breakout of reverse H&S wth lunch of B.C into the ride hailing ... there seems to be some ground shifting ... could be a potential turn around for Lyft and Uber . lets see how the chart signals this in short term
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.
