How To Change Address In Uber

Let's review the charts of LYFT and UBER.

By BRUCE KAMICH

Nov 05, 2020 | 10:00 AM EST

Stocks quotes in this article: LYFT, UBER

Jim Cramer told viewers of Mad Money Wednesday night that riding sharing was also a big winner in the election after California voted that Lyft (LYFT) and Uber (UBER) can continue classifying their drivers as independent contractors, albeit with a few additional protections. Cramer said this was a big win for the gig economy and also a warning to other states not to interfere with progress.

(For more, see California's Proposition 22 to Benefit Uber and Lyft, Here's How to Play it)

Let's check out the charts of LYFT and UBER.

In this daily bar chart of LYFT, below, we can see that prices popped higher Tuesday and Wednesday but finished yesterday off its best levels. Note that prices rallied to the underside of the declining 200-day moving average line and retreated.

The On-Balance-Volume (OBV) line has largely moved sideways since March and does not show us sustained aggressive buying.

The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside for a cover shorts buy signal but crossing the zero line has not happened yet.

In this daily bar chart of UBER, below, we can see a much more constructive picture than what we see above for LYFT. Prices gapped higher on Wednesday to break above the highs going back to June. Prices are above the rising 50-day moving average line and the rising 200-day moving average line.

The OBV line is making a new high for the move up telling us that buyers of UBER are more aggressive.

The MACD oscillator is just slightly above the zero line - not super strong but a W is a W.

Bottom line strategy: The chart of UBER is more constructive or positive than the chart of LYFT. UBER has overhead resistance in the $40-$46 area to overcome so I am not pounding the table on either stock right now.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

More from Investing

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

Email sent

Thank you, your email to has been sent successfully.

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login