Have UBER on your portfolio of 2021Potential gain:80%
Reward/Risk:5.5
Timeframe: 6-9 months
* we may experience a pullback..!
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UBERB trade ideas
UBER unusual options activity for $70 1/2022 - bullish long termUBER on 4H: Will UBER hit $70 before 2022?
RECENT NEWS
UBER tumbled last Friday after Britain’s top court said its drivers should be treated as “workers” rather than contractors.
TECHNICAL OBSERVATIONS
UBER has been trading within an upward channel. We are sitting at support, watch to see if we can move up here. One concern is if we pullback further, there is a gap below $55 which we may attempt to fill.
OPTIONS ACTIVITY
This week there were $40.50 Million worth of Uber calls bought. One that jumps out to me was a LEAP options $70 strike price expiring 1/21/22 because there were $37.3 Million worth of those purchased last Wednesday.
SUPPORT & RESISTANCE
Support: $58 | $55 | $53
Resistance: $60 | $63.40
UBER (potential breakout based on fundamentals)Technical :
- tested the $50 priceline 3 major times & completely rejected the last time it was down there.
- not much data on larger time frames, only recently went public
- price currently testing the $58 priceline, will most likely reject due to good fundamentals & future potential of the company.
(If rejected high possibility of a bull run to possible potential value of 200 billion market cap. Which is roughly $100 per share.)
Fundamentals :
- UBER has lots of upside potential from car rental to ride sharing, UBER eats, uber air, travel, & local delivery in general.
- UBER will most likely act as a proxy from consumer to mobility company in the future with an Amazon based business model focused on growth.
- UBERs functionality & fundamentals extremely solid, I dont see it failing. Extremely safe investment with huge upside.
(Personally I do believe it is a 10x company worth a trillion dollars. I also believe it will outgrow tesla)
"UBER Long" Bullish will this see $67.70 $UBERlike how NYSE:UBER has created a nice base over the past few days, Now it needs to break that 61.31 at which point this can get some nice price action to the upside towards that 64.05. If this get above that I feel this can get interesting and push to new all time high after a breaks of 64.05 spot.... whelp only time will tell from here
Long UBER above 60.05Market cap: 105.86B
Shares Float: 1.32B
Short Float: 4%
Short term target $60.00-$65.00
Weekly performance +8.74%
Monthly performance +10.71%
Uber has recently gained headlines tackling prescription delivery in NYC with Nimble, and now the Drizzly take over deal for alcohol delivery.
UBER is less than a week out from earnings reports, and looks to be regaining control of the this monthly trend line after retracing to a historical iceline, at 47.12
On the 4HR chart, the RSI is a little topped out to have a real edge on a new position.
The MACD histogram seems to be losing some momentum, and we could need to see a little consolidation or perhaps even a retest of the prev weekly open at 54.50
To have a real edge on a new position i would want to see confirmation of support on the red trend line, and above our current weekly top of range of 58.09
If we do see some consolidation, i think that will give the next move the strength it needs to break out above 60.05
This will also give time for the 50MA to cross over the 200 which should send the price action to new levels on the upside if it continues to play out.
Id be a buyer above 60.05, and if we correct a little before advancing, id be a buyer again between our monthly open at 52.15 (approx 50% retrace) and the previous weekly open of 54.50
In the case of a heftier correction, I would be looking at the "heartline" trend to be an expected target
Given there is buyer exhaustion evident on shorter time frames, ill be looking for consolidation and proper support prior to engaging this one further.
This isnt investment advice and i do own a long position in UBER in my long term portfolio.
SHORT UBER@DotcomJack inspired me to do some analysis today and although I have a lot to learn about TA, if the market crashes, Uber will be one of the first to go. Look at how it's near ATHs (almost touched $60), up over $50 from it's previous ~$40 high before the Corona Crash. In March is crashed BELOW $15
gets more interesting with the Gann, see how before every major dip it starts in the 3rd most dramatic drop off, then goes to 2nd, then levels off in the first. But now the dip is happening all in the first. Watch out, this could be an indicator of a broader market crash...
#BearishUBER