Lyft
LYFT Testing Final Support LevelTrade Background:
Price plummeted sharply after Q4 earning due to poor guidance to profitability. Now price has once gain for the third time return to test final support level of the trend. If price fails to break lower, look for a swing to the upside.
Trade Idea:
Entry: 44.50 to 46.00
Stop loss: 43.00
Lyft Bounce PlayLyft just had ER a few days ago, it was overall positive. With their chase sapphire partnership, I think it's going to be a huge opportunity for them. I am sure one of these days, if a analyst puts those two and two together, they are going to upgrade the stock and it's going to run.
"Lyft Sees Q1 Sales $1.055B-$1.06B vs $1.05B Estimate; FY20 Sales $4.575B-$4.65B vs $4.59B Est."
Lyft Q4 Active Riders ~18.586M, Up 23% Year Over Year, Sales Per Active Rider $36.02, Up 23% YoY
Lyft Q4 Sales $1.017B Beat $984.17M Estimate
Lyft (NASDAQ:LYFT) reported quarterly sales of $1.017 billion which beat the analyst consensus estimate of $984.17 million by 3.34 percent.
Lyft
Entry 47.05
Target 49.05
stoploss 45.05
LYFT Bottom PlayGreetings traders. Today I noticed the daily candle perfectly rejecting broken downtrend line as well as rising channel bottom, and the cherry on top is the daily support level around 45.00.
It's only a matter of time before smart money catches on to this and the unwarranted PLUMMET in share price.
TIGHT STOP: 44.50 (catching knives is risky business) ...... PROFIT TARGET: 52$ (don't get greedy)
Ascending Triangle $62If you are purely a pattern trader, Lyft is looking fantastic, with a measured move to $62.
I would look how earnings are (reported this week), and if strong, can buy the breakout of this triangle, and if weak, can potentially buy at the bottom of the triangle, for a future breakout.
Great looking chart. Options up to $55 make a lot of sense on this one. That is how I am playing it.