When I glanced at the chart of LYFT today, I noticed three interesting examples of charting phenomenon I wanted to point out:
From left to right, we have:
- Failed bullish breakout (green tint): a base completed, prices went up briefly, and then they cut below the horizontal. It was all over soon thereafter.
- Another failed bullish breakout (cyan tint): an even nastier head-fake, in which prices zipped higher and yet again rolled over.
- Price gap: after plunging hard (just like everything else), Lyft went roaring higher (just like everything else). However, as it approached its price gap (circled), the price action got exhausted, and it’s been slammed ever since.