Lyft, Inc.

Lyft, Inc. (NASDAQ: LYFT) operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. Noted below are the key price indicators for the stock:

Technical Observation (on the weekly chart)

On the weekly chart, stock price of Lyft’s is trading below the downward sloping trendline and facing the resistance of the same. The leading indicator RSI (14-period) is sustaining below the lower-range and showing a reading of ~21.52. The CMP is below the trend-following indicator 21-period & 50-period SMA, which may act as the resistance level for the stock. 

Source: REFINITIV, Analysis: Kalkine Group 

As per the above-mentioned price action and technical indicators analysis, we have a ‘Watch’ rating on Lyft, Inc at USD 14.67 (as of 21-06-2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario 

Blink Charging Co.

Blink Charging Co. (NASDAQ: BLNK) through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. Noted below are the key price indicators for the stock:

Technical Observation (on the weekly chart)

On the weekly chart, stock price of BLNK’s is trading below the downward sloping trendline and facing the resistance of the same. The leading indicator RSI (14-period) is sustaining below the mid-range and showing a reading of ~36.015. The CMP is below the trend-following indicator 21-period & 50-period SMA, which may act as the resistance level for the stock. 

Source: REFINITIV, Analysis: Kalkine Group 

As per the above-mentioned price action and technical indicators analysis, we have a ‘Watch’ rating on Blink Charging Co. at USD 16.38 (as of 21-06-2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario 

PacWest Bancorp

PacWest Bancorp (NASDAQ: PACW) is a US-based bank holding company that provides financial and banking solutions. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

On the weekly chart, PACW prices are trading in a bearish trend with the lower lows and lower highs formation. It has been observed that the prices crashed more than 50% from the 52-week high marked in February 2022. The leading indicator RSI (14-period) is in an oversold zone and is showing a reading of ~25.99. The CMP is below the trend-following indicators 21-period & 50-period SMA, which may act as the resistance level for the stock. 

Conclusion 

As per the above-mentioned price action and technical indicators analysis, we have a ‘Watch’ rating on PacWest Bancorp at a close price of USD 26.56 (as of June 21, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

BHP Group Ltd

BHP Group Ltd (NYSE: BHP) is a globally diversified company that produces iron ore, copper, oil, gas, and metallurgical products. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

As per chart analysis, BHP’s prices are trading in a consolidation range for the past few months. It has been observed that the prices are facing hurdles at upper levels. The leading indicator RSI (14-period) is hovering around the middle level and is showing a reading of ~45.93. The CMP is below the trend-following indicators 21-period & 50-period SMA, which may act as the resistance level for the stock. 

Conclusion 

As per the above-mentioned price action and technical indicators analysis, we have a ‘Watch’ rating on BHP Group Ltd at the close price of USD 57.72 (as of June 21, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Investors with an extremely high-risk appetite can consider investing in the stock based on the provided support and resistance levels as well as other risks associated. Markets are trading in a highly volatile zone currently due to certain macro-economic issues and g prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Investment Related Risks: This report may be looked at by Investors with sufficient risk appetite looking for returns within a short investment duration. Investment recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

Note 2: How to Read the Charts?

The Green colour line reflects the 21-period moving average while the red line indicates the 50- period moving average. SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

The reference date for all price data, volumes, technical indicators, support, and resistance levels is Note: Data as on 21-06-2022.         The reference data in this report has been partly sourced from REFINITIV. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

USD: United States Dollar

RSI: Relative Strength Index 

Note: Trading decisions require a thorough analysis by investors. Technical reports in general chart out metrics that may be assessed by investors before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.

Disclaimer

References to ‘Kalkine’, ‘we’, ‘our’ and ‘us’ refer to Kalkine Limited.

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