Benin City Drivers Oppose Bolt's New Wait and Save Option
- Driver Opposition: E-hailing drivers in Benin City have strongly opposed Bolt's introduction of the 'Wait and Save' option, arguing that it undermines their economic interests amid high fuel prices and newly imposed VAT, potentially leading to reduced earnings.
- Impact of Low-Fare Strategy: The new option offers the lowest fares, forcing drivers to bear greater financial pressure, as they may earn only ₦14,000 after long hours of work, while Bolt deducts a 21% commission, exacerbating the drivers' financial strain.
- Lack of Consultation and Respect: Driver representative Russell Eghaghe highlighted that Bolt did not consult drivers before implementing the new option, indicating a disregard for their input and respect, which negatively affects their morale and mental health.
- Call for Dialogue and Policy Review: Eghaghe urged Bolt to engage in constructive dialogue with the AUATON union to reassess current policies, ensuring drivers' rights and safety are prioritized to prevent further economic and health crises.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.97 | 0.977 | 0.989 | 0.996 | 1.007 | 1.014 | 1.026 |
| Fibonacci | 0.977 | 0.984 | 0.989 | 0.996 | 1.003 | 1.007 | 1.014 |
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