Get started

Uber

ACHR a penny personal air transport startup LONGACHR is a speculative penny stock with big momentum this past week for a continuation trade. The chart is a basic 2 hour chart upside 20% to all time high no revenue burning cash but improving on putting out the fire. No competition in its intended market. $5.00 strike calls for March monthly for $75 look good. Once upon a time, I had a fellow ER doc who commuted to work all the time by helicopter. Cost him some money but it added 10 hours a week onto his life. He tells me this will be huge in time when the costs and economy of scale kick in. He believe him 1000%. Buy, buy and then buy some more ( so long as you have your risk management figured out. ). Archer Aviation Inc. (NYSE: ACHR), an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. Archer Aviation Inc. was incorporated in 2018 and is headquartered in San Jose, California. Archer’s goal is to transform urban travel, replacing 60-90 minute commutes by car, with estimated 10-20 minute electric air taxi flights that are safe, sustainable, low noise and cost competitive with ground transportation. With a range of up to 100 miles, Archer’s Midnight is a piloted, four passenger aircraft designed to perform rapid back-to-back flights with minimal charge time in between flights. "Archer Aviation Inc. (NYSE: ACHR) Company Shareholder Snapshot" Shareholders can expect long term growth and appreciation that is expected from the enormous cash position, experienced management team, and dual revenue streams. The Company Raised $1 Bln. of Capital Went public in 2021 on NYSE Key Investors: United Airlines, Jeep, Peugeot, Fiat, Maserati, Jet.com, and Moelis group Key Company Highlights Industry leading engineering team COO and Chief Engineer have each previously built 7 eVTOL aircraft VP of Tesla 100 person powertrain team Targeting commencement of operations in 2025 "Archer Aviation Aircraft 2 Unique Revenue Streams for Explosive Growth" The company has two explosive revenue growth strategies that have the potential for long term shareholder growth year after year. Archer Air - Aerial Ride Sharing Archers core business Initially targeting 50% of revenue mix Grow 70% to 80% of revenue mix over long term Targeting 40%+ GM Archer Direct - Aircraft OEM Can provide meaningful upfront cashflows & revenue diversity Targeting 50% of revenue mix Transitioning to 30% over the long term Targeting 50%+ GM "Archer Aviation Aircraft Overview Electric Vertical Take-Off And Landing" Performance Range: Up to 100 miles, optimized for 20 to 50 mile rapid back-to-back trips with minimal charge time. Speed: Up to 150MPH Payload: Industry leading 1,000lbs, pilot + 4 passengers Advantages Safety: Will be certified at levels similar to todays commercial airliners Noise: 100X quieter than a helicopter Cost: Approximately 1/3 the cost to manufactured and to operate than a traditional helicopter "Urban Congestion Is Not Sustainable - Archer (ACHR) Solves Issue" In 2018, 55% of the world's population lived in urban areas according to the United Nations, a proportion that they project to increase to 68% by 2050 Traffic congestion cost the US economy nearly $87Bln. in 2018. Vast majority of trips in urban areas are less than 50 miles long, but take more than an hour. Major cities across the world have a similar dynamic, especially trips from airport to city center.
NYSE:ACHR
by AwesomeAvani
1
Uber's Bold Move: A $7 Billion Share BuybackUber Technologies (NYSE: NYSE:UBER ) has announced its maiden $7 billion share buyback program, marking a pivotal moment for the tech giant. This strategic decision comes hot on the heels of Uber's remarkable rebound, showcasing its resilience and adaptability in the face of adversity. Following a tumultuous period induced by the pandemic, Uber ( NYSE:UBER ) has emerged stronger than ever, bolstered by a robust recovery in its ride-share segment and sustained growth in its food delivery business. The company's stock, which soared by over 100% last year, surged an additional 8% to $74.75 upon the announcement of the buyback, reflecting investor enthusiasm and confidence in Uber's trajectory. Uber's Chief Financial Officer, Prashanth Mahendra-Rajah, aptly described the share repurchase program as a "vote of confidence in the company's strong financial momentum." This move underscores Uber's commitment to delivering value to its shareholders while capitalizing on its newfound profitability. Looking ahead, Uber ( NYSE:UBER ) projects impressive growth metrics over the next three years, with expectations of mid to high teens percentage growth in gross bookings and a striking high 30s to 40% growth in adjusted core profit. Moreover, the company anticipates maintaining a free cash flow of 90% or higher annually, further solidifying its financial foundation. Thomas Hayes, chairman of hedge fund Great Hill Capital, hailed Uber's decision as a testament to its operational prowess and the surging demand for its services. He noted, "Uber is hitting on all cylinders and has decided it's time to return capital back to the owners. It's a vote of confidence in demand for their services as well as operational discipline perfectly executed by CEO Dara Khosrowshahi." The buyback program, which is expected to reduce Uber's share count by up to 5%, has been met with widespread acclaim from investors. This move not only signifies Uber's bullish outlook on its future prospects but also underscores its commitment to enhancing shareholder value. The resurgence of the ride-share market, coupled with Uber's landmark achievement of posting its first annual net profit since going public in 2019, underscores the company's remarkable turnaround. With a staggering free cash flow of $3.4 billion in 2023, compared to $390 million the previous year, Uber is undoubtedly on a trajectory of unprecedented growth and success. In conclusion, Uber's $7 billion share buyback initiative encapsulates its unwavering confidence in its ability to deliver sustainable growth and create long-term value for its shareholders. As the company continues to innovate and expand its global footprint, this bold move serves as a testament to Uber's resilience, adaptability, and unwavering commitment to driving shareholder returns in an ever-evolving landscape.
NYSE:UBERLong
by DEXWireNews
UBER rising after VWAP bounce LONGUBER on a 30 minute time frame chart crossed over an anchored VWAP about January 25 and topped January 30th then retested the slowly rising mean anchored VWAP in a double bottom fashion on the following day. The relative strength indicator is in the 65-75 range and the zero lag MACD cycling mostly above the horizontal zero level. I see UBER as suitably setup for a swing trade long when it is near to the bottom of the support trendline in the ascending megaphone pattern.
NYSE:UBERLong
by AwesomeAvani
Uber's Earnings Beat Reflects Resilience Amid Supply ChallengesIn the wake of Uber Technologies' (NYSE: NYSE:UBER ) latest earnings report, the ride-hailing giant continues to demonstrate its resilience and adaptability in the face of ongoing challenges. Despite concerns surrounding driver supply and market dynamics, Uber's fourth-quarter performance exceeded expectations, reflecting its ability to navigate turbulent waters while maintaining strong growth momentum. Analysis: Uber's (NYSE: NYSE:UBER ) fourth-quarter earnings showcased robust financial results, with adjusted earnings per share (EPS) soaring to 127% year-over-year and revenue climbing 15% to $9.9 billion. The company's gross bookings, a key financial metric, grew by 22% to $37.6 billion, surpassing analyst estimates. This impressive performance underscores Uber's (NYSE: NYSE:UBER ) ability to effectively capitalize on evolving consumer behaviors and market opportunities. One notable highlight from the earnings report is Uber's (NYSE: NYSE:UBER ) success in boosting driver supply, which has been a persistent challenge amid the ongoing labor market dynamics and regulatory changes. The company's efforts to enhance driver incentives and streamline onboarding processes have started to yield positive results, as evidenced by the growth in monthly active platform consumers (MAPCs) and monthly trips per MAPC reaching all-time highs. This indicates that Uber's platform remains highly attractive to both riders and drivers, driving increased engagement and usage. Moreover, Uber's (NYSE: NYSE:UBER ) strong financial position, as evidenced by its adjusted EBITDA of $1.3 billion, underscores its ability to effectively manage costs and drive operational efficiency. Despite facing headwinds in certain markets and segments, the company continues to invest in strategic initiatives aimed at driving long-term growth and profitability. Future Outlook Looking ahead, Uber's guidance for the first quarter of 2024 further instills confidence in its growth prospects. With expected gross bookings in the range of $37 billion to $38.5 billion and forecasted EBITDA of $1.30 billion at the midpoint of guidance, Uber remains well-positioned to capitalize on emerging opportunities in the transportation and delivery space. Conclusion: In conclusion, Uber's (NYSE: NYSE:UBER ) fourth-quarter earnings beat reflects its resilience and agility in navigating complex market dynamics. Despite facing challenges related to driver supply and regulatory pressures, the company's strong financial performance and strategic initiatives position it for continued growth and success. As Uber continues to innovate and expand its ecosystem of services, investors can remain optimistic about its long-term prospects in the evolving mobility landscape.
NYSE:UBERLong
by DEXWireNews
UBER 80 AFTER EARNINGS !! Uber Technologies Inc. (UBER) has seen significant growth in the past year. The ride-hailing and delivery platform’s shares have skyrocketed 111% in the last 12 months1. This return not only far outpaced the broader Nasdaq Composite index, but it also means Uber is now hitting fresh all-time highs1. Here are some key points to consider for a long position in Uber: Network Effects: Uber’s business benefits from powerful network effects. The larger Uber gets, the more valuable its services become for all stakeholders2. Growth Potential: Between Q3 2019 and Q3 2023, gross bookings and revenue increased 114% and 145%, respectively2. Earnings Forecast: Wall Street analysts expect Uber will release earnings per share of $0.1593. With earnings projections at $9.76 billion, a 5% QoQ increase, and $0.39 earnings per share4. Market Position: Uber’s network effect protects its competitive position. It would be an extremely difficult task for a new entrant, no matter how well funded, to start a competing ride-hailing or delivery business from scratch
NYSE:UBERLong
by NYRUNSGLOBAL
Can UBER breakthrough its all time high?UBER on the weekly chart has been touching the all time high ( set nearly two years ago ) since mid-December. The relative buying volume has had some spikes. the MACD suggests a line cross above the histogram and so some bearish tendencies. If UBER can get over its all-time high and retest it from above another leg higher seems to be a very likely scenario as buyers jump into the action chasing the price. This will be especially true if the general market gets some good trending up. This goes on the watch list with an alert for a new all-time high.
NYSE:UBERLong
by AwesomeAvani
Uber's Strategic Shift: Navigating the Stock's Intricacies In a bold move reflecting Uber's commitment to a unified and streamlined delivery experience, the ride-hailing and food delivery giant announced the discontinuation of its alcohol delivery app, Drizly. The decision, effective January 16, 2024, forms part of a larger strategy to consolidate its various delivery services, ranging from food to groceries and alcohol, under the flagship platform, Uber Eats ( NYSE:UBER ). This article delves into the implications of this strategic shift and analyzes the impact on Uber's stock performance on this pivotal day. Uber's Stock Dips: A Closer Look On January 16, 2024, Uber's ( NYSE:UBER ) stock faced a minor setback, with a decrease of $0.27 in share price, marking a 0.43% decline since the previous market close. While such fluctuations are common and can be attributed to factors like market dynamics and investor sentiment, the decision to shutter Drizly likely played a role in shaping market perception. Investors, always vigilant to changes in a company's strategy, responded to Uber's consolidation efforts with cautious consideration. Financial Rollercoaster: Revenue Surges, but Challenges Linger: Uber's financial report for the year leading up to January 16, 2024, paints a mixed picture. Total revenue soared to an impressive $31.88 billion, reflecting an 82.62% increase from the previous year, driven by a surge in demand for delivery services during the pandemic. However, the joyous revenue surge is tempered by concerning figures in net income and earnings per share (EPS). Uber ( NYSE:UBER ) reported a staggering net loss of $9.14 billion over the past year, a stark contrast to the third quarter's net income of $221 million. This drastic shift indicates the challenges Uber faced in turning its revenue into sustainable profits. The earnings per share (EPS) mirrored this struggle, dropping to -$4.65 over the year, reflecting a decrease of 1673.86% compared to the previous year. Even in the third quarter, while Uber managed a positive EPS of $0.10, it marked a 46.18% decrease from the preceding quarter. Drizly's Demise: Streamlining or Unraveling? The decision to close Drizly is undoubtedly a strategic move to streamline Uber's delivery services, offering users a seamless experience through Uber Eats. However, the departure of Drizly raises questions about Uber's ability to successfully navigate the evolving demands of the market. Investors may be pondering whether this streamlining effort will indeed lead to operational efficiencies and improved profitability or if it marks a potential unraveling of diversification attempts. Conclusion: Navigating the Uber Stock Landscape As NYSE:UBER charts its course through the evolving landscape of the delivery services industry, investors find themselves at a crossroads. While the closure of Drizly aligns with Uber's goal of a more consolidated and user-friendly experience, the financial challenges underscore the complexities of translating revenue surges into sustainable profits. The stock market, as always, remains a dynamic arena influenced by multifaceted factors.
NYSE:UBERLong
by DEXWireNews
Looking Bearish on UBER. Hello everyone, thank you for taking time out of your day to read my analysis on $NYSE:UBER. As you can see here on the daily chart, we are approaching a major supply zone. We are also very over-extended from the 200 EMA, extremely oversold, and it looks like the buying pressure on the MACD is slowing down. Now, all I would wait for is a big push (a strong bearish candle) out of this zone with a good amount of volume to verify the rejection. I would look to swing trade this position. As you can see here on the chart, the green line would be my Take-Profit because it was a previous point of resistance that we blew through. As always, again, thank you for reading and looking at my analysis on this stock. Merry Christmas and may God bless you and your family.
NYSE:UBERShort
by OptionsMastery
4
Uber(NYSE: $UBER) Shares Surges on Inclusion in S&P 500Key Takeaway 1. Uber is joining the S&P 500, according to an announcement late Friday. 2. The ride-hailing company generated positive earnings in the latest quarter and over $1 billion in profit in the last four periods. 3. Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion. Uber shares rose 5% in extended trading on Friday after the ride-hailing company was added to the S&P 500 Index, replacing Sealed Air Corp. The change will take place prior to the open of trading on Monday, Dec. 18, according to a press release. A company’s stock price often rises on news that it’s joining the S&P 500 because fund managers who track the benchmark, which gets updated each quarter, have to acquire the shares. Companies also have to meet certain valuation and profitability requirements. Uber shares debuted on the New York Stock Exchange in 2019, but the company was burning cash as it had to pay drivers enough money to stay competitive in a low-margin business. Its preferred metric was adjusted earnings before interest, tax, depreciation and amortization, or EBITDA. Most of Uber’s adjusted EBITDA comes from mobility, but the company made its delivery business profitable faster than planned, after recession-fearing investors became more averse to investing in money-losing companies. Growing advertising revenue has also contributed to Uber’s profitability. Uber eliminated more than 3,500 jobs in 2020, and executives have since worked to improve its cost structure. For example, they reduced the cost of deliveries. Uber reported net income of $221 million on $9.29 billion in revenue in the third quarter, and in the past four quarters altogether, it generated over $1 billion in profit. According to S&P’s rules, members of the index must have positive earnings in the most recent quarter and over the prior four quarters in total. Constituents of the index must have an adjusted market cap of at least $14.5 billion. Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion. Price Momentum UBER is trading near the top of its 52-week range and above its 200-day simple moving average. What does this mean? Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
NYSE:UBERLong
by DEXWireNews
UBER Technologies Options Ahead of EarningsIf you haven`t sold UBER here: or bought the dip here: Then analyzing the options chain and the chart patterns of UBER Technologies prior to the earnings report this week, I would consider purchasing the 50usd strike price Calls with an expiration date of 2023-12-15, for a premium of approximately $1.84. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:UBERLong
by TopgOptions
1
Uber Up 113% For 2023!Uber's stock market journey has been a rollercoaster of highs and lows over four and a half years. The stock reached a high of $64 in February 2021 but plummeted to $13 by March 2020. During a challenging period from February 2021 to June 2022, the stock saw a 68% decline but found crucial support at $20. In January 2023, it crossed the significant daily 200 simple moving average at $27, indicating a shift in investor sentiment. The stock continued its upward trajectory, surpassing $40 in June 2023 and then facing resistance at the $50 mark in July 2023. It retreated to $40 in October 2023 before breaking past $50, aided by Q3 earnings reported on November 7th. Despite earnings being slightly below estimates, the stock closed up nearly 4%. Since the earnings report, Uber's stock has risen by 15%, with a year-to-date increase of 113% and a 25% rise in November alone. As it approaches its all-time high of $64, there's anticipation about its ability to set new records and possibly establish a long-term bullish trend. However, given its volatile history, the future remains uncertain as investors watch to see if Uber can maintain sustained growth. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NYSE:UBER
by Sublime_Trading
Uber Tests New Uber Tasks Service To Diversify EarningsUber Technologies Inc . (NYSE:UBER) is piloting a new service called Uber Tasks in select markets, aiming to expand beyond its core ride-sharing and food delivery services into the gig economy. The initiative, first reported today, is designed to offer more earning opportunities for Uber's six million drivers and couriers. The pilot program for Uber Tasks will launch in Fort Myers, Florida, and Edmonton, Alberta, Canada. This move follows the company's introduction of new safety measures earlier this week, including an expanded rider verification program and the "Record My Ride" feature that allows drivers to record trips using an iPhone's front-facing camera. Uber Tasks will enable app users to hire gig workers for household tasks such as furniture assembly, lawn mowing, snow removal, packing/unpacking, holiday decorating, and yard cleanup. Drivers and couriers can see earnings estimates before signing up for tasks. This strategic expansion could position Uber as a formidable competitor in the gig economy landscape, currently dominated by platforms like TaskRabbit, Thumbtack, Handy, and Angi. TaskRabbit, acquired by IKEA in 2017 after raising $38 million, could face significant competition from Uber if Uber Tasks expands globally. However, challenges such as competition from newer players like Revel and safety concerns highlighted by a consolidated lawsuit involving 3,800 riders alleging sexual assault by drivers may impact the service's success. Despite these potential hurdles and posting over $9 billion in revenue last quarter—the smallest growth in two years—Uber is seeking new growth avenues as the ride-sharing and food delivery markets become increasingly saturated. The company's recent ventures include a "Return a Package" service launched last month and plans to start accepting FSA payments from 2024. These initiatives are part of Uber's broader strategy to diversify its offerings and revenue streams amidst heated competition from other delivery apps like DoorDash (NASDAQ:DASH) and Instacart (NASDAQ:CART). Technical Analysist Price Momentum UBER is trading near the top of its 52-week range and above its 200-day simple moving average. What does this mean? Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
NYSE:UBERLong
by DEXWireNews
Uber Stock: Relative Strength Hits New HighWith its earnings report out of the way, Uber stock is breaking out from a double bottom base pattern with a 49.19 buy point. On the stock market today, Uber shares are up 3.8% to 49.90 in recent action. Uber released earnings results Tuesday morning. Third-quarter earnings and fourth-quarter bookings guidance topped estimates. Revenue was short of expectations, however, which the company pinned on accounting changes. The stock traded lower premarket but has since recovered to post significant gains. Overall, Uber shares have gained more than 90% this year. Uber Stock: Q3 Earnings Beat, Revenue Light Early Tuesday, Uber reported third-quarter earnings of 10 cents per share on sales of $9.29 billion for the third quarter ending Sept. 30. Analysts expected Uber to post earnings of 7 cents per share on sales of $9.54 billion, according to FactSet. Some other estimates had called for earnings of 12 cents per share. In the same quarter last year, Uber lost 61 cents per share on $8.34 billion in revenue. Total third-quarter bookings climbed 21% year over year to $35.3 billion, compared to expectations of $34.6 billion. Bookings for the Rides business climbed 31% year over year to $17.9 billion. Bookings for the Eats, or delivery, business climbed 18% to $16.1 billion. Uber routed 2.4 billion trips during the quarter, up 25% from the same period last year. The 10% revenue gain marked a sixth straight quarter of decelerating sales growth. However, the company noted that some accounting changes contributed to the lower than expected sales number. Uber Chief Financial Officer Nelson Chai said in prepared remarks that the changes reduced revenue by $521 million for the quarter. Second Straight Operating Profit, Strong Outlook Uber reported a third-quarter operating income of $394 million, compared to a loss of $495 million last year. The second quarter was Uber's first ever with a profit from its ride-hailing and delivery operations. Net income for the third quarter was $221 million, recognizing a $96 million headwind that is primarily from unrealized losses on Uber's equity investments. For the current fourth quarter, Uber projects gross bookings between $36.5 billion and $37.5 billion. Analysts were estimating $36.52 billion. Analysts largely saw positives from the report. Uber Stock: Relative Strength Hits New High Uber stock's Relative Strength Rating score is at 96 out of a best-possible 99, indicating it is significantly outperforming the market. Technical Analysis Price Momentum UBER is trading near the top of its 52-week range and above its 200-day simple moving average. What does this mean? Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
NYSE:UBERLong
by DEXWireNews
UBER - ATH likely in 2024 I must admit despite all the TA I have tried with this name, profit has eluded me because most upward action has bee around ER. I have tried not hold big positions into ER, but this name has proved me wrong last three times. Bounced off of 60 VMA nicely an caught fire. another test of 45 or flag above would set this up nicely for 60. despite sluggish volume, this has help up really well. Suggests institutional ownership is high and when market conditions improve, this is likely to blast off. No position
NYSE:UBERLong
by CheelooTrader
Uber has engaged in a long short battleUber has engaged in a long short battle This chart shows the weekly candle chart of Uber Company's stocks from the end of 2020 to the present. The top to bottom golden section of February 2021 is superimposed in the figure. As shown in the figure, the lowest point of Uber's stock in June 2022 hit the top to bottom golden ratio at 3.272. The low point in May this year and the high point in June are also the top to bottom golden ratio at 2.000 and 1.618, respectively! In the past 9 weeks, Uber's stock has engaged in a long short battle against the top of the chart against the 1.382 position in the golden section, without a clear choice of direction to break through!
NYSE:UBER
by Think_More
Buying Uber on dips.Uber Technologies - 30d expiry - We look to Buy at 45.45 (stop at 42.95) Daily signals are bullish. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. We look to buy dips. The 50 day moving average should provide support at 45.20. Dip buying offers good risk/reward. Our profit targets will be 51.45 and 52.45 Resistance: 49.49 / 50.00 / 52.00 Support: 47.28 / 45.25 / 42.95 Please be advised that the in formation presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group
NYSE:UBERLong
by VantageMarkets
Lyft Showing signs of Life, have we Bottomed?Hi guys! Welcome to an analysis on macro developments of Lyft (LYFT). With the markets doing what they've been doing this year, we have to ask, " Will the % gains come to stocks that are still many many % down from their tops"? Or are some stocks just doomed to fizzle out and take time to re-build/ grow? Well, if we are in a Bull market, which i personally think we are... Assets with Solid Market Structure & Technicals will also be included into the liquidity being injected into the markets. Taking a glance under the hood with LYFT, i can see some promising developments playing out. Making me consider LYFT as a Long play. This analysis is strictly on Technicals and is on the 1 Week timeframe to get a big picture view. So lets look at Price Action: Last week candle has broken ABOVE the Major Resistance trendline which has worked to cause Price Declines since November 2021 Notice how we've had many touch points on this Resistance line in RED. I believe it to have been weakened, thus the current BREAKOUT. Do we go back to print All Time Highs now? Absolutely NOT. It requires alot of energy or momentum to break major trends. But its the 1st step to the road of getting back to all time highs. We also need Confirmation before anything. This 1 candle is not enough, though an extremely BULLISH candle, a Bullish ENGULFING candle. Which is a great sign and pushs probabilities for confirmation as well. But we need to now Test the Resistance line as SUPPORT. With the overlaying Resistance line ABOVE us, i believe we will get a push down to the Support Test. But so far the break out to me is promising: Why? Look to the Volume for clues. We are so far seeing increased volume. It is important that it continues. If at the end of this week, you see Volume has declined. We would need to reassess the breakout, as that would potentially mean this could be a Fakeout. So getting ABOVE Major Multi year resistance, would support the idea of Trend Change/ perhaps Trend Reversal and a sign hinting that the Bottom is in. Another Bottoming sign observed = BULLISH DIVERGENCE being spotted. This is when Price Action prints Lower Lows BUT Indicators print Higher Lows. Seen in the RSI -> Notice if and when we get above the Resistance line, we will see large % gains. Another indicator to watch would be the STOCH RSI, as we are getting close to a BULLISH CROSS. If we get it, we will see bullish momentum come in, perhaps pushing prices above this horizontal resistance line. Anyway i think things are hinting at the idea that we have bottomed. We are in a critical moment for LYFT and we must continue to monitor this week and more. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on LYFT in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:LYFTLong
by SafofAllTrades