Stage 1 in Ridesharing š
$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:
If youāre using my custom scans, youāve 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:
And the Morningstar analysis:
Now $LYFTās price being much lower than itās 200 SMA than $UBER is to itās 200, could mean that as a company, Lyft isnāt performing as well (or rather, peopleās opinion is that it isnāt doing as well, remember price is more a reflection of other peopleās opinions on the company than the actual companyās performance). Is that a bad thing? Usually, but there are many factors involvedā¦
With a little research (always DYOR) you will find breadcrumb trail of a Lyft buyout rumors:
Is that a good thing or a bad? Depends who buys it and if that ever happens. But as they say, āBuy the rumor, sell the news.ā
Your homework for the night is to determine the Targets and Stop Losses for the above charts. Also, do some research on the potential Lyft buyout rumors.
Donāt forget to follow SpockTradez on Twitter for more real-time picks and posts.
Trade long and prosper!
š
Sign Up for a Medium Membership: https://spocktradez.medium.com/membership
