DailyPlay – Lyft Inc (LYFT) – January 4th, 2022

View LYFT Trade

The bullish DailyPlay for Tuesday, January 4th is Lyft Inc (LYFT).LYFT is part of the Industrials sector that has experienced strong momentum in recent weeks. 

Technical View

• Price has broken above the $44.50 resistance level after a week-long pullback/consolidation. 
• Bullish 1M trend
• Break above 21 D EMA and strong short-term momentum. Encouraging bullish price action and further rally expected. 

Fundamental View

• Improving driver supply network aided by sunsetting of federal unemployment benefits.
• Strong rebound in sales expected – 41% sales growth forecast for 2022
• Earnings: Feb 1, 2022 (28 days)

As this is a Credit Spread, look to take profits at 50% gain and cut losses at 100%:

Take Profits: $1.07 Debit

Stop Loss: $4.30 Debit

View LYFT Trade