UBERIf you have suddenly reached the bottom now and the decline model is not correct, then it is safe to enter from the blue line( with a breakdown and a level test)
A more aggressive way to long is from red (47.7)
There are divergences in CMF, RSI, MFI-they signal for a long time that the bottom is presumably.
It is better to stick to the scenario of actions above and not catch the knife.
(The correction model turned out to be very complex, I'm not sure about it myself)
If we reach the area of 41-38, then it will be safe to consider the long from 43 (previously, judging by the schedule)
UBER trade ideas
Uber breakout play week of 6/28UBER has of late been tradeing in a bastardized bull pennant/descending wedge down from its feburary highs. Its held descending support and resistance well enough with a break above the downtrend as well as horizontal support at 51.50. I intend to enter calls on a reterst of 51.50 and look for a break of 54.75 and finally 59, past 59 if it can make new highs meaning an eventual run to 68-70 is possible. A break and hold back into the pennant cancels the trade until the next break out.
Expecting A Rise Based on technical analysis I see UBER dipping at the open, and then rising to test resistance.
MACD & D+ show a combination of weakening bearish divergence, and growing bullish divergence.
Guth 3x confirm also shows a uptrend for both price and volume.
What are your thoughts?
Will be posting multiple Friday predictions, comment your stock below and I will do a personal analysis and it will also help me out because I am looking for stocks to add to my watchlist.
Happy Trading
UBER for a quick playJust looking at the chart for the past few days, UBER appears to carry its momentum into the next day followed by a few days of consolidation. Given the strong performance on Friday, this should continue to run into Tuesday. End of week contracts would start scaling out Wednesday afternoon, leaving a few risky runners for Thursday. More conservative traders should just exit on Tuesday.
Just an idea. This is not financial advice.
Uber TechnologiesNot a fan of gap risk (especially long weekend in the US) but UBER is interesting here. I've been monitoring it for a few days, closely observing the pivot and whether it can hold. Also note the consolidation potentially looking to cease while the underlying indicators point to emerging strength.
In addition, the Bank of America was out with an upgrade earlier this morning.
Before it moves, these are my levels:
Current: $51.27
Buy range: 51.05/51.30
Stop: $49.20
Target Range: $55.50/$56.80
The Bulls May Be Riding with UberOne by one, tech stocks have battled off their lows as investors return to growth names. It’s happened in Tesla, DoorDash, Roku and Advanced Micro Devices. Now Uber Technologies may be joining the club.
The ride-sharing giant is doing all kinds of interesting things with its moving averages. First, it’s been holding support along its rising 200-day simple moving average (SMA). Next, UBER is trying to break resistance at its falling 50-day SMA.
Third, its 8-day exponential moving average (EMA) just rose above the 21-day EMA. That, combined with the SMA activity, suggests longer-term bullishness is overcoming intermediate-term bearishness.
Also consider the price action since UBER’s drop on May 6. The stock quickly rebounded and held the $48-49 support area that’s taken shape since late November.
Turning to the weekly chart, we find that a bullish outside candle just formed:
Finally, MACD has been accelerating for more than a month.
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UBER Price Action AnalysisI was looking at a trade today for a member of my social media. NYSE:UBER looks to have stalled at 52.35 which is right at the 50% Retracement of the recent down move. This if following a retracement of the last bull trend which was around the same zone as the IPO first weeks' price action highs. Price could in the short term retrace down to retest the 5/10/21 low but would remain bullish as long as that low holds. Breaking the 6/28/21 high would be a sign of a bullish breakout.