In our last review of Lemonade, Inc. (LMND) back on May 12 we wrote that , "It looks like it is the late innings for the decline in LMND. Traders who are looking to buy LMND should wait for the first up close and go long the next day. Risk a new low close."
Let's check out the latest charts of this innovative insurance company.
In the daily bar chart of LMND, below, we can see that the shares rebounded from May into early July. Nimble traders who took our trade idea could have made out nicely. Prices turned lower again in July and have not subsequently made a new low breaking the May nadir. LMND is trading below the declining 50-day moving average line and below the declining 200-day line.
The On-Balance-Volume (OBV) line is bearish and pointed down and so is the Moving Average Convergence Divergence (MACD) oscillator.