Uber has given investors almost 3 years of noteworthy gains.
Unfortunately,
Uber has broken theoretical support and confirmed a 10 day candle below our BB SMA.
The last time this happened Uber went on and corrected a total of 64% from Top . If we apply the same prospect we can infer that IF Uber breaks below the $60 level it will open the way to a bigger correction towards $30 for a total correction of 64%.
Macro Market Structure will still remain bullish as Uber correcting to $30 will still create a HL.
Using the MACD we can predict the overall correction to last another full year.
Factors that may contribute to the fall include ;
- Short Operating Income
- Negative Guidance
- Currency Headwinds
- Expenses
Etc.
Unfortunately,
Uber has broken theoretical support and confirmed a 10 day candle below our BB SMA.
The last time this happened Uber went on and corrected a total of 64% from Top . If we apply the same prospect we can infer that IF Uber breaks below the $60 level it will open the way to a bigger correction towards $30 for a total correction of 64%.
Macro Market Structure will still remain bullish as Uber correcting to $30 will still create a HL.
Using the MACD we can predict the overall correction to last another full year.
Factors that may contribute to the fall include ;
- Short Operating Income
- Negative Guidance
- Currency Headwinds
- Expenses
Etc.
Note
This Is a potential bearish Scenario trade Notice the IF in capital letters on description .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.