Lyft skids - Analysis - 05-05-2022

Lyft's stock (LYFT) tumbled 29.91% in the last session, settling 21.56, with trading volumes surpassing 112.5 million, after the company reported a loss of $0.57 per share, with competitor Uber's shares falling as well.

The downward correctional short-term trend still dominates trading, while trading below the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect more losses for the stock, targeting the pivotal support of 14.56, provided the support of 21.34 holds on.

Expected trend for today: Bearish