LMND bearish divergence on the daily

Updated

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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Take a look at the difference in volume:

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

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

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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:

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

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

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

Safe_Trades

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