LMND bearish divergence on the daily

14 Jan 2021

LMND is showing bearish divergence between RSI and price on the daily chart. MACD is starting to curl down, ADX is flat although still trending, and +DI is curling down as -DI is curling up. In the past, after rallies LMND retraced to find support on the 14-ema and 21-ema. I am a buyer on that zone.

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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***

14 Jan 2021

Nota

Take a look at the difference in volume:

15 Jan 2021

Nota

Second fib level met. I believe more downside is coming:

15 Jan 2021

Nota

Support on the 14-ema. You may start scaling in if you want. I am waiting a little longer:

15 Jan 2021

Nota

That is a nice hammer candle on the retracement. Depending on what the next candle prints this could mean the short term trend could reverse. If you didn't get in on lower levels this is still a good time to start scaling in. Don't go all in because the reversal is not confirmed yet:

22 Jan 2021

Nota

LMND daily resistance at $150. I took some profits here:

25 Jan 2021

Nota

Closed my LMND position at $167 and bought back with an average price of $153. Now crossing my fingers the support holds. 🤞

26 Jan 2021

Nota

LMND recovering from yesterday's drop. Glad I got back in at support.