$LYFT - RC -
Added 2023-07-21 12:18:42 +0000 UTCOverall $LYFT consolidated between Feb to July and finally broke above the 200 Day MA last week and has since retested and so far has remained above the the 200 Day, in spite of a -6% drop yesterday.
The impulse case is valid here as Wave 2 pulled back to the 0.5 Fib exactly on the 50 Day MA and has bounced very well.
But I need to see the price action break above the yellow trend line channel at $12.50 because right now I only see 3 waves, and this means that a corrective wave is still a possibility, a break above this yellow trend line will be a new high and the corrective wave can be eliminated.
Some rumours circulating that a buyout is a possibility here and probably accounts for the recent bullish sentiment, so this could be one to watch.
