LYFT-5-22-19
LYFT - delivered quick 20% gain off my green target box. What to do now?
In April I posted a video “The Only Smart Way to buy Hot IPO’s” where I predicted price of newly gone public LYFT to drop under $50. Back then I posted a chart below and explained that at minimum LYFT had to play (a)-(b)-(c) move down off the top made on the first day of trading.
LYFT - 15 min chart updated on 4/16/2019
On 13 May 2019 I posted a chart of LYFT below for my students in my educational chat and wrote: “LYFT is about to dip into the green target box in a completed (a)-(b)-(c) down fractal”.
The Green Box was located in between 47.31 and 45.45. LYFT bottomed at $47.17 the very same day.
LYFT - 15 min chart updated on 5/13/2019
In ten days LYFT delivered a quick 20% rally off the Green Target box. And now the main question is whether to book that quick profit or hold. There are two scenarios. Either LYFT bottomed in (a)-(b)-(c) fractal as per the chart above. Or it has been in a more complex correction off the top made on the first trading day. That second scenario implies that the rally we have got is a corrective rally before another final plunge to a new lower low. And that is my primary scenario.On the chart below you can see that W-X-Y count and a new target box for another decline to under $40.00.
LYFT - 15 min chart updated on 5/22/2019
Start to Learn Now!
Subscribe to my video course
and learn to predict market moves
YouTube Channel
Subscribe to my
YouTube channel
Check My Latest Updates!
Check out
the recent updates