Stage 1 in Ridesharing 🚗

3 min readOct 21, 2022


$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:

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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:

Now $LYFT’s price being much lower than it’s 200 SMA than $UBER is to it’s 200, could mean that as a company, Lyft isn’t performing as well (or rather, people’s opinion is that it isn’t doing as well, remember price is more a reflection of other people’s opinions on the company than the actual company’s performance). Is that a bad thing? Usually, but there are many factors involved…

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, “Buy the rumor, sell the news.”

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.

Don’t forget to follow SpockTradez on Twitter for more real-time picks and posts.

Trade long and prosper!


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