Lemonade, Inc.

LMND looking at potential breakout

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These simple sideways channel trading set ups are just a beauty. The LMND charts levels of resistance and support are abundantly clear and have been tested multiple times. The more they get tested, the happier I feel about the execution.

For today, I am looking for a day trade on a break above 69.24. which may become a swing trade too if its very profitable.

If it does not break through resistance, I would be watching to buy at the bottom of the trading channel....

For a day trade, I would be looking at options, 1-3 call options depending on the price. Small and safe position only for me.

Typically, one call option can yield great results, but having say 3 of them can allow me to sell 2 at a profit and keep 1 for tommorow to see what happens then.

Penafian

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