- NASDAQ: LYFT stock price collapsed after the disappointed Q4 results
- Lyft stock price down by 40% on the weekly basis and formed a giant bearish candle
- Lyft stock price closed the friday session near the 52 weeks low
Lyft Inc (NASDAQ: LYFT) stock price ended the week with a loss of 40% and the chart patterns had turned highly bearish which shows that the coming months will be very tough for the long term investors.
Many analyst like Justin Patterson of KayBanc Capital Markets had cut his rating on Lyft(LYFT) lowering it to sector weight from overweight, Doug Anmuth of JPMorgan had also downgraded (LYFT) from neutral to overweight and Wedbush securities analyst Dan Ives has also lowered his ratings of LYFT from outperform to neutral which has negatively affected the sentiment of LYFT tagata faʻapisinisi.
Will the Lyft stock price break down the 52 week low ?
Lyft Inc (NASDAQ: LYFT) stock price has witnessed a massive gap down due to the poor performance in the Q4 which has created a panic scenario and investors rushed to sell the stock at market price to save whatever little bit capital is left after the massive destruction.
In the mid of January, Lyft stock price has reclaimed the 50 day EMA and gained the bullish momentum which has created a positive hope for the investors and prices shot up 49% approx in the short span of time but unfortunately prices took halt near the 200 day EMA and collapsed down after the release of Q4 earnings because Lyft failed to beat the street estimates.
Lyft stock ended the week with a loss of 40% from the recent peak which clearly shows that it will be very difficult for the bulls to retest the $18.00 level in the current year unless the company does some fundamental changes or improvement in their business operation to become profitable. Lyft stock price is near the 52 week low at 9.66 level which is the last hope left for the investors and if prices break down the 52 week low then it might slip further down toward $7.00 level. However, the prices seem to be in oversold territory and likely to enter into consolidation before deciding the further direction.
The technical indicators of the Lyft stock like MACD which has generated a negative crossover indicating bearishness and the RSI had collapsed down from the overbought level and entered into the oversold territories which denotes the weakness in the stock.
However, the prices are near the oversold zone and likely to see a short term relief rally or will enter into the narrow range consolidation between $9.68 to $12.00
aotelega
Lyft Inc (NASDAQ: LYFT) stock had destroyed massive wealth and down by 40% from the recent peak shows that the investors had lost confidence and it will be difficult for the company to attract genuine investors until some fundamental changes are visible in the company. Many analysts had also downgraded the stock which also indicates that 2023 will be going to be a tough and challenging year for the lyft investors.
Tulaga fa'apitoa
Tulaga tetee: $12.05 ma le $14.04
Tulaga lagolago: $9.68 ma le $7.00
Tuuese
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Source: https://www.thecoinrepublic.com/2023/02/11/lyft-stock-crashed-36analyst-downgraded-the-future-outlook/