LYFT Trade on Aug 8, 2019 10:20 from Cklamb: Tradervue User Stock Trades.

LYFT
Intraday Fundamentals
• Several upgrades in ratings and target by banks
• Lyft raised its sales outlook for the year as more riders are using the service and as it appears to be curbing its heavy use of discounts.
• KEY FACTS
• -- Lyft now projects 2019 revenue to be $3.47bn to $3.5bn , compared with a
• previous range of $3.275bn to $3.3bn .
• -- Lyft also said Wednesday that it now sees a narrower loss for the year.
• -- Excluding expenses like interest, taxes, depreciation and amortisation,
• the company sees a loss of $850m to $875m in 2019.
• -- It had previously forecast a loss of $1.15bn and $1.175bn .
• -- Revenue in the most recent quarter surged 72% to $867m as the number of
• active riders climbed to 21.8m from 15.5m in the year-earlier period.
• -- Those riders are spending more, with $39.77 in revenue per active rider,
• up 22%.
• -- The loss in the quarter ended June 30 still swelled, in part because of
• stock-based compensation expenses related to Lyft's initial public
• offering in March.
• -- Lyft lost $644million in the quarter, compared with a loss of $178.9
• million in the year-earlier quarter.
• -- Analysts surveyed by FactSet had projected a loss of $445m .
• Analysis
• While investors have long been concerned about the heavy use of discounts in ride-hailing, Lyft appeared to decrease its use of them in the second quarter, as its sales and marketing expenses grew only 3% to $181m . That suggests the once-raging price war with rival Uber Technologies is abating, as both companies relied heavily on discounts and subsidies as they fought for market share and hunted for drivers.
• Lyft and Uber have struggled in their public debuts, as investor concerns with their giant losses and unclear paths to profitability have kept their shares well below their initial public offering prices. Lyft's stock on Wednesday was trading around $61 a share, down over 15% from its $72 IPO price in March.
• A fuller story is available on WSJ.com
Technicals
ADV 8.7 m RVOL 1.76 ATR 2.37 Short 11.2% Inst own 33.10%
Daily

Hourly

Intraday

Trading Plan
Longs
• 60 would represent S2 on more significant levels you would still need a dollar stop if it were to flush to here on the open
• Look to see if 63 ish holds during the open and the price can hold VWAP after the test use 63 as the stop until you can define a better risk set
• Look for micro trend break starting after price discovery
Shorts
• 68.30 . 64 if it set up with a rejection of VWAP or is a small uptrend
•
Reading the Tape
I was not ready the tape I was to focused on the execution of the set up. This may have helped me with a better stop.
Trade Management

Trade Review
• Played just like I am in practice sessions
• Held for some consolidation after break
• Set entry limit as priced moved away from 62
• It filled like expected.
• I set stop underneath the wick of the breaking candle and not the proceeding
• Target was 62.60 this additional risk would not have offered an acceptable reward.
• This was a good way to consider a position at a level.
Trade Grade
Aspect Score Poss. Notes
Preparation 9 10 I had levels to work with and the entry plan if this stock got there. This type of entry and play was planned a couple of different levels
Hard Work 8 10 Yeah, tape read best I could experiment with a couple angles of the trend line
Patience 8 10 I held for consolidation and felt that I gave this the time to set up right and by rule
Plan 8 10 Target @62.60 stop @ 61.89 entered on limit dictated by the break
Discipline 7 10 Yes..
Contribution NA 10

Replay 10 10 I do have tape of this