Lyft Inc. is an on-demand transportation-as-a-service provider. The company is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app that has also entered the bike- and scooter-share market to bring multimodal transportation options to users.
Daily RSI is still bullish but we can spot a bearish divergence, pointing at a possible pullback and re-test of previous supports. In fact, on 4 hours time frame, we can see how the prices already hit the upper level of the Keltner Channel and is now re-tracing, with a decreasing RSI. Using the Williams Fractals, we can see the bullish fractal already appeared. Due to these findings, all indicators are going at the bearish momentum, therefore a short signal is generated.
Position: SHORT Entry price: $ 52.05 Target price: $ 44.76