UPST to $30! Major Market Wipeout coming.. Look out!
Updated
UPST or UPSTART is still extremely bearish.
Today we are looking at UPST on the Monthly Chart. Previously we offered a quick short day trade opportunity that worked out amazing. See related ideas.
However today we want to take a look at the MACRO picture of the stock.
Most Notable we made a higher high on LESS Volume or Participation. This is an indication for us that the market is possibly looking to reverse.
Secondly we consolidated and broke down from key structure int he 150 range. in Face we formed a Bearish Flag
As we evaluate Structure. We are estimating a 80% minimum drop from the high of the corrective move. Doing so would get us into the $30 range on UPST.
Much like most of the market and cryptocurrencies we just see big bearish patterns and indicators everywhere. Not only do we thing the bottom is NOT in.. we think the selling has really just begun.
Today we are looking at UPST on the Monthly Chart. Previously we offered a quick short day trade opportunity that worked out amazing. See related ideas.
However today we want to take a look at the MACRO picture of the stock.
Most Notable we made a higher high on LESS Volume or Participation. This is an indication for us that the market is possibly looking to reverse.
Secondly we consolidated and broke down from key structure int he 150 range. in Face we formed a Bearish Flag
As we evaluate Structure. We are estimating a 80% minimum drop from the high of the corrective move. Doing so would get us into the $30 range on UPST.
Much like most of the market and cryptocurrencies we just see big bearish patterns and indicators everywhere. Not only do we thing the bottom is NOT in.. we think the selling has really just begun.
Note
I am holding a swing put option. I am looking to add a 4-5 Month Put Option contract next week. Ideal pull back is to 110-120 for entries.Note
still waiting on the big moveTrade closed: target reached
Trade completed on Earnings. Beautiful playNote
Looking for new opportunities on UPST with the bounce in the market. Will post a new chart soonNote
Upst is still dumping. Will post a new idea soon
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