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- Wall street is expecting a strong growth in the revenue of LYFT in the upcoming quarterly result
- LYFT stock price is currently in an upside momentum. It is trading near the value of $18 with a gain of 3%
Lyft is a transportation company that was founded in 2012 and has since become one of the largest ride-hailing services in the United States. The company IPO came in March 2019, with its initial being one of the most highly anticipated in recent years. Since going public, Lyft stock has been a popular choice for investors looking to get in on the growth of the ride-hailing industry. Despite a challenging year for the company in the COVID-19 pandemic, Lyft’s stock has been recovering and has seen some positive momentum in the past few weeks. One of the key factors driving Lyft’s stock is the company’s focus on expanding its offerings beyond traditional ride-hailing services. This includes investments in bike-sharing and scooter-sharing services, as well as the development of autonomous vehicle technology. Meanwhile wall street is currently expecting a strong growth in the revenue of LYFT for the next quarter.
LYFT has a market cap of 6.47 Billion with a negative EPS. Various analysts are expecting a strong momentum in price for the future.
Are Bulls Of LYFT Lifting It Up?
The weekly technical chart of the LYFT suggests an upside momentum in price .On the daily chart it is trading near the value of $18 with a gain of 3% in the intraday session. It is currently in a strong upside trend and can move to a new high in the future. Resistance of the LYFT can be seen near $20.Meanwhile the support of the asset price can be seen near $15.It is currently trading in above the 50 and 100 Daily Moving Average. There can be a positive crossover which can push the asset price to a new high.
RSI of the LYFT can be seen near 76 suggesting its presence in the oversold zone. There is a positive slope formed suggesting a weak upside move.
Conclusion
Wall Street is expecting a huge growth in LYFT in upcoming quarters. LYFT stock price is currently in an upside move and can see a new high in the future.
Technical Levels
Major Support:$14
Major Resistance:$20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
