Turning Over A New Leafly

The stock we are highlighting today was a lot higher than it is today.

Leafly Holdings, Inc. (LFLY) owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. It offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers and brands; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.

In the last 52 weeks, the weed-related stock has been as high as $11.58 and as low as $4.18. (1) LFLY’s chart suggests that Leafly could recover some of those losses. The stock trades at $4.60 as we type.  The stock fell off a cliff in early June and drifted lower achieving its 52-week low on July 5th.

The stock has flattened out since and showing three signs that it might be ready to reverse course.

  1. Its negative trendline has been broken
  2. Relative Strength is pointing northward
  3. A bullish MACD crossover

In our technical opinion, LFLY offers traders the potential for a 3.9 parts return for 1 part risk. On the upside, the first resistance level is $5. The next level higher is $5.50 and then $6.36 as our short-term upside target.

On the downside, we cut losses at $4. That’s $0.60 for its current price and $2.36 potential upside from Leafly’s current price.

Day/Swing trading is very risky and only appropriate for investors who can afford to lose money.

Rich Meyers
Investing Trends


1 – https://finance.yahoo.com/quote/LFLY?p=LFLY