Lyft (NASDAQ:LYFT) shares are down 0.2% today, heading for a fifth-straight daily drop and a 23.3% year-to-date deficit. However, Schaeffer's Senior Quantitative Analyst Rocky White notes the stock is near a trendline with historically bullish implications. This signal has occurred five times in the last 10 years, after which Lyft stock was higher one month later 60% of the time, averaging a 9.4% gain. Put traders have been circling, with the stock's put/call volume ratio higher than 76% of all other readings from the past year, and its Schaeffer's put/call open interest ratio (SOIR) ranking higher than all other readings from the past 12 months. Should this bearish sentiment unwind, it could trigger tailwinds for the shares.