Hello dear stock traders & friends, hope you're doing well guys! ;)
In this comparison, I wanna show you the similarities between Lyft & Snap: In trading we often have 'non-linear' trendlines & corrections, which I'm personally counting in my analyses when looking at stocks or commodities or crypto.
In this case case we have nice rounded bullish upmove, which always gets into a descending ending move, before we see a break out of this shape.
=> Snap went from $11.50 to almost $18,50 breaking from this pattern.
Of course it will strongly depend on company performance over the coming months, but Lyft could similarly see a bounce going on from the current $60-59 zone, and even another dip to $57, before we see a breakout coming. We could go towards $78-80 psychological in this case.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
In this comparison, I wanna show you the similarities between Lyft & Snap: In trading we often have 'non-linear' trendlines & corrections, which I'm personally counting in my analyses when looking at stocks or commodities or crypto.
In this case case we have nice rounded bullish upmove, which always gets into a descending ending move, before we see a break out of this shape.
=> Snap went from $11.50 to almost $18,50 breaking from this pattern.
Of course it will strongly depend on company performance over the coming months, but Lyft could similarly see a bounce going on from the current $60-59 zone, and even another dip to $57, before we see a breakout coming. We could go towards $78-80 psychological in this case.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
