Ridesharing Divergence:
The two major players in the ridesharing business in LYFT and UBER are driving on two different paths, pun intended. LYFT has been acting better of the duo trading 10% off most recent 52 week highs, while UBER is now 21% off its annual peak. This week the divergence is glaring with LYFT up 5%, while UBER has advanced 1.5%. It is not to say both charts do not have attractive traits. UBER has CLOSED the last 3 weeks in a very taut manner, all within just .48 of each other. On its WEEKLY chart, one would see how the week ending 5/14 successfully retested a double bottom pivot of 41.96 from the week ending 11/6/20 that rose 34.3% in double average WEEKLY volume (was also its best WEEKLY gain ever since coming public just over 2 years ago). LYFT in my opinion is the more alluring play, as it approaches a double bottom pivot of 65.74. Respect Wednesdays move above the round 60 number, which has been rough resistance throughout the month of June.