$UBER Bullish DivergenceClosed out last Uber trade with profits. Re entered here as I noticed 11/19 calls sweeping.
Indicators showing bullish divergence and trading well below respected AVWAP.
Looking for a reversal and move back up towards the AVWAP/middle of channel. Run up to earnings also in play with the 11/19
11/19 45C 1.77 avg 21K OI
11/19 47.5C 1.2 avg 4K OI
UBER trade ideas
Buy Into Weakness On Uber Technologies (NYSE: $UBER) ๐๐๐Uber Technologies, Inc. develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services and other forms of transportation services, including public transit, as well as connect riders and other consumers with restaurants, grocers, other stores, and delivery service providers for meal preparation, grocery, and other delivery services. The company operates through four segments: Mobility, Delivery, Freight, and Advanced Technologies Group (ATG) and Other Technology Programs. The Mobility segment provides products that connect consumers with mobility drivers who provide rides in a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. It also offers Uber for Business, financial partnerships, transit, and vehicle solutions offerings. The Delivery segment allows consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered, as well as offers grocery and convenience store delivery, and select other goods. The Freight segment connects carriers with shippers on the company's platform and enable carriers upfront, transparent pricing, and the ability to book a shipment. The ATG and Other Technology Programs segment engages in the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. Uber Technologies, Inc. was founded in 2009 and is headquartered in San Francisco, California.
$UBER Time to short, or is it? California's prop 22 was found unconstitutional by a supreme court judge late last week, news that were sort of expected since the bill already had plenty of discrepancies. Despite the news and what that means for UBER specifically, I am more interested in how this stock has moved since the bill passed.
Pretty noticeable at first glance, despite missing EPS, on November the stock started an impulsive move leaving a gap behind and that it's closing to nowadays price. If we look at it from a bearish point of view, the .618 was strong resistance above which indicated another wave down towards the 1.618. Interestingly enough, the stock is now below March lows' VWAP and it's fast approaching the IPO VWAP. Very important to note that the 8MA is extended from price action, so a bounce in the near term is not out of the question. Now, will it be at the IPO VWAP? Or will it close below, sending it lower towards the gap and the 1.618? One thing is for sure, these two VWAPs will provide all the information we need in order to short efficiently or to prepare for some choppy price action.
$UBER with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $UBER after a Negative over reaction following its earnings release placing the stock in drift C.
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UBER: Complete analysis (H, D and W charts).Hello traders and investors! Letโs see how UBER is doing today and do another complete Multiple Time Frame Analysis (MTFA)!
The stock hit a top at $ 44.64, and now it is doing a pullback. We have two good support candidates in the 1h chart, which are the 38.2 and the 61.8% Fibonacci Retracements .
The 38.2% is at the 21 ema too, and the 61.8% is at the $ 41.86, which weโll talk about later.
If UBER reacts near these support levels, it could trigger the pivot point at $ 44.64, reversing the trend for good in the short/mid-term.
Todayโs candlestick pattern is called Bullish Engulfing , a bullish reversal pattern, just above the support at $ 41.86 (no, it is not the time to talk about it yet).
The volume is good, and if we defeat todayโs high ( coincidently, the pivot point in the 1h chart ), the bullish pattern will be triggered. If we lose todayโs low, then the bullish thesis will be invalid (or at least, delayed).
Ok, do you remember the $ 41.86? This point was the pre-covid ATH , and a previous resistance on UBER, which now it is working as support in the weekly chart.
Whatโs more, we have a Hammer candlestick pattern, which might reinforce our bullish reversal thesis. Surely, it is an interesting stock to keep in our radar.
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waiting for a positive divergence confirmationIts Trend(OBV) displays a Bollinger Band squeeze at the bottom of its Donchian channel.
If a positive divergence between Trend(OBV) and its price actions is confirmed , then there may be a big rally after its earning.
Trend(OBV) uses True Strength Index to analyze "On-Balance-Volume", which measures buying and selling pressure as a cumulative indicator.
Horizontal lines and zones are supports (entry for bulls and exit for bears) and resistances (exits for bulls and entries for bears).
Diagonal lines from Fib fan/channel are for trend-determination and additional levels for active trading.
The market is actively moving so the entries and exits constantly change. Trade small if you want to practice!
UBER - Inverted cup and handle watch Has been forming inverted cup and handle. Break down below the neck line is bearish.
Bouncing from the neck line is bullish.
Neckline - $45
Bad case - $38.99
Worst case - $28.59
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.