Followers | 686 |
Posts | 142386 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, December 14, 2022 1:13:58 PM
By: Schaeffer's Investment Research | December 14, 2022
• LYFT has rallied right into a historically bearish trendline
• LYFT also announced a partnership with EVgo today
Ride-hailing platform Lyft Inc (NASDAQ:LYFT) and EVgo (EVGO) are launching a new partnership to provide Lyft drivers with discounted charging on EVgo's fast-charging network. The news is boosting Lyft stock today, with the shares last seen 3.8% higher to trade at $12.04 bringing the weekly gain to nearly 10% already. However, if past is precedent, a bear signal is flashing on the charts that could send the LYFT south once more.
Per a study from Schaeffer’s Senior Quantitative Analyst Rocky White, LYFT just ran into a trendline that has been a bearish indicator in the past. Per White’s study, Lyft stock is within one standard deviation of its 50-day moving average for the sixth time in the last three years. After the last five signals, the equity was lower one month later 60% of the time, averaging a 5.2% loss for that period. A move of this magnitude would still keep the shares above their Dec. 7, all-time low of $10.09, but would add to their 72.2% year-to-date deficit.
An additional unwinding of optimism amongst options traders could also have bearish implications. This is per Lyft stock's 10-day call/put volume ratio of 8.27 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks higher than 96% of readings from the past year, indicating long calls being picked up at a much faster-than-usual rate in the last 50 days
Lyft stock is sporting relatively cheap options at the moment. This is per the equity’s Schaeffer’s Volatility Index (SVI) of 74%, which ranks in the relatively low 24th percentile of readings from the past year.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent LYFT News
- Nike Stock Drops 14% in Pre-Market; Nokia Acquires Infinera for $2.3 Billion, and More News • IH Market News • 06/28/2024 10:50:25 AM
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:03:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:37:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:35:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:33:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:32:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:30:46 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:28:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 12:27:20 AM
- GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More • IH Market News • 06/07/2024 12:09:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 12:49:08 PM
- Lyft Provides 2027 Financial Targets at First Investor Day • Business Wire • 06/06/2024 12:45:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 11:27:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:05:42 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/29/2024 08:53:01 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/29/2024 08:06:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 01:38:19 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 01:36:35 AM
- Nvidia Profits Set to Challenge Historic High Market; GE Aerospace Announces New Hires, and More News • IH Market News • 05/22/2024 10:37:09 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 08:42:16 PM
- Walmart Corporate Job Cuts and Office Centralization, GameStop and AMC Surge, and More News • IH Market News • 05/14/2024 11:26:02 AM
- Choppy Trading Likely To Persist On Wall Street • IH Market News • 05/09/2024 01:08:04 PM
- Dow Extends Winning Streak Amid Another Lackluster Session • IH Market News • 05/08/2024 08:42:00 PM
- Reddit Rises 15% After First Quarterly Report, Upstart and Twilio Plunge Due to Weak Q2 Forecast, and More in Earnings • IH Market News • 05/08/2024 12:23:27 PM
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM