$LMND - What would I do?
LMND Lemonade has been basing in stage 1 - the bottom, for the past two years. It is currently at a major resistance that has been hard to break in the past.Once it breaks through the resistance around $25, it will mark the beginning of stage 2 - the uptrend. Beware of false breakouts, though.
It is currently beginning to enter overbought territory, so I would caution against chasing the stock.
If I have a position, I would take some profit, just in case there is a hard rejection and a pullback from the resistance.
If I don't have a position, I would wait for either a breakout and subsequent retest of the major resistance to take a position, OR in case of a rejection, wait for it to come close to the support region/POC area.
The support, resistance, and targets are shown in the chart.
I have no position. Just helping someone.
As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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