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LYFT looks having bottomed but UBER needs one more lower low
I believe LYFT bottomed in a large post-IPO corrective A-B-C down structure.
That means the move up off teh last low made at 37.07 on 10-10-2019 is just the first micro a-b-c up off the low
Now we need LYFT to play a corrective micro a-b-c pullback making a higher low to get a high probability winning LONG setup.
LYFT - 90 min chart updated on 11-25-2019
In contrast, UBER still needs another push lower in the final micro wave v doIn conclusion, I expect a new lower low in UBER and a higher low in LYFT.
I like LYFT much more for a long position because that stock has bottomed in a corrective structure. In contrast, one more lower low may be a completion point in an impulsive structure down in UBER. That means that LYFT can start here a new impulsive long term rally. But UBER may only play a corrective bounce.
UBER - 45 min chart updated on 11-25-2019
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