Delivery service DoorDash ( DASH) announced Wednesday that they are laying off 1,250 staffers to help rein in costs. I don't know about their cost structure, so I don't know if this move will indeed help, but I will present you with their charts to see what traders may be thinking about the stock. 
In this daily bar chart of DASH, below, we can see that prices have been in a downward trend the past 12 months. Prices made a low in October but a rally in November has stopped well short of the declining 200-day moving average line. The trading volume looks like it has been more active since May but that has not translated into a bullish picture.
The daily On-Balance-Volume (OBV) shows an 11 month decline and only a limited one month bounce. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but in a decline and take profit sell mode.
In this weekly Japanese candlestick chart of DASH, below, we see a bearish picture. Prices are in a longer-term downward trend as they trade below the declining 40-week moving average line. The candles are not showing me a classic bottom reversal and lower shadows are absent here.
The weekly OBV line has been weak since last November. The MACD oscillator has been moving up but it's still in sell territory.
In this daily Point and Figure chart of DASH, below, we can see that the software is projecting a potential downside price target in the $41 area.
In this weekly Point and Figure chart of DASH, below, we can see a downside price target in the $28 area.
Bottom line strategy: Getting your dinner delivered during the pandemic may have been a necessity but now consumers pinched by inflation may consider it an expense they can cut. Just thinking out loud.
Retailers are dealing with consumer shifts and I guess companies that deliver food and beverages to your doorstep are too. Maybe that is what these bearish charts are telling us. Avoid the long side of DASH.
