Stage 1 in Ridesharing 🚗

$LYFT and $UBER are breaking out

Some quick notes about two nice setups from ridesharing companies $LYFT and $UBER. Just a reminder that if you want to get these picks in real time, be sure to follow the SpockTradez Twitter account:

Follow SpockTradez on Twitter

If you don’t already use Stockchart.com please CLICK HERE to use my referral

If you don’t already use Stockchart.com please CLICK HERE to use my referral

If you’re using my custom scans, you’ve now doubt been seeing both $LYFT and $UBER showing up in the results. With the market (and the world) being as volatile as it is right now, the safer play is to wait for a confirmed Breakout.

As you can see from the above charts, the 5 EMA has crossed above the 20 SMA for $LYFT today (yesterday for $UBER). One thing to note, is that $LYFT is farther before the 200 SMA, the stock is really beaten down, which means potentially more upside.

Here are the price targets according to TipRanks:

$LYFT closed today at $13.56

$UBER closed today at $28.02

And the Morningstar analysis: