$LMND- Where Could This Be Headed?
Option 1:
Lemonade shares see a volume spike and a change in trend, then see a swing up to that $134 resistance level before completing their wedge and breaking out toward ATH's.
Option 2:
Lemonade shares break down out of the smaller wedge formation and find support at $80 again before seeing an upside (triple bottom).
Option 3:
Lemonade receives bad news and volume continues to fall, causing them to break support and find old support at the $64 old resistance level.
My Outlook
Personally, I am a fan of option 1 here. I think Lemonade fundamentally has plenty of room to grow. Like I have said before, they don't yet offer auto insurance and their interphase is very easy to work with. I will be waiting for a spike in volume or good news for a potential entry. Leave a like and comment your thoughts :) Good Luck!
Lemonade shares see a volume spike and a change in trend, then see a swing up to that $134 resistance level before completing their wedge and breaking out toward ATH's.
Option 2:
Lemonade shares break down out of the smaller wedge formation and find support at $80 again before seeing an upside (triple bottom).
Option 3:
Lemonade receives bad news and volume continues to fall, causing them to break support and find old support at the $64 old resistance level.
My Outlook
Personally, I am a fan of option 1 here. I think Lemonade fundamentally has plenty of room to grow. Like I have said before, they don't yet offer auto insurance and their interphase is very easy to work with. I will be waiting for a spike in volume or good news for a potential entry. Leave a like and comment your thoughts :) Good Luck!
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