Uber: Bullish Pocket PivotBullish signal based on today’s closing price and volume.
Closing price was trending lower until today
Price closed higher than yesterday
Volume higher than previous 10 days
Price broke above 10 dma (cyan)
Price broke above 20 dma (blue)
Price bounced at about 50 dma (dark blue)
UBERD trade ideas
Uber is a buy at $33The area of 33 dollars which was once its resistance has since become a level of support.
Uber trading sideways in a channel with the 33$ mark being the bottom of the channel.
Good area to buy at 33 and sell at 37.5 unless it breaks out above 38. It has tested 38 twice to no avail.
Market conditions going into this Monday appear positive.
UBER critical lvl, expecting bounce off 50MAsupport at previous resistance, 50MA
very small wick shows good support & buying confidence.
Bull case:
expecting a good bounce up, best case aim for gap fill & forming a new trading zone between 34 - 38
Bear case:
SPY keeps dumping and 50MA support fail to hold, and break down further to test 100MA at $33
Uber: Trick or TreatDon’t fall for Uber’s trick, instead play nice and wait for it’s Treat. Yesterday, Uber didn’t gain like most of the market did. Instead, Uber faked a close under 20 DMA but bounced upwards right at close. That bounce coincides with a long term trend line that had been acting as resistance but now appears to act as support.
The pink vertical lines indicate bounces off the trend line by a high, low, open, or close price. If the trend line is valid support, then price could rally, slowly or quickly, to an ideal technical target price of $66. However, a more practical target price is closer to $54.
Like, follow, and let’s see what happens.
UBER Ready to Breakout From IPO BaseUBER has been building an IPO base for a while. Similar in look to SPOT and BYND before they broke out. And if you want to go to the 'way back machine' check out CHGG after it IPO'd. UBER has a chance to provide some huge returns. Watch for a break of the downtrend line and follow-through above the blue shaded area. Top of the watch list for me!