UBER: Bullish Daily FlagThe price broke out from a bullish daily flag. In the coming days, we can see the price moving higher after this bullish momentum up to $59
Thank you and Good Luck!
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.
Weekly Outlook! 6/28 - 7/2Check out what stocks we are watching for the coming week! As well as a recap of last week's video!
NASDAQ:BYND
BYND we are looking for a breakout of consolidation that we've been seeing over the 200sma. Confirmation level is over $152 but can take anything with good strength over $149
NYSE:MA
Looking for a nice breakout over the $380 level as we saw a nice long term trend support bounce last week!
NYSE:UBER
Uber has been consolidating over the 200sma over the past few weeks. We finally look ready to take another move up with a breakout over $52
NYSE:DIS
DIS looks to be breaking trend resistance. This is a play we entered last week. We'll see a new short term uptrend confirmed if we can hold the $181 level this week!
SHORT | UBER | Intraday | Friday 6/11NYSE:UBER
Possible Scenario: SHORT
Evidence: Price Action
TP: 47
TP2: 42
Call options, Strike 49$, 06/11/21 80%POSITION
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* This is my idea and could be wrong 100%
UBER is just not gaining traction. NYSE:UBERCertainly seems to be the case that we are going to drop some after completing quite a spectacular triangle. No impulse, and correction continues.
Remember, this is not financial advice. You must do your own research and carefully make decisions for yourself by yourself. We love TA and do not provide individually tailored financial advice, or financial advice period.
Now that aside, Fibonacci in crystal clear green and invalidation noted, as always, in red. Good luck out there.
WHY YOU'RE WRONG ABOUT UBER. PUT AWAY YOUR "FIB" USE YOUR EYESAll,
Sorry literally had to post this on all the garbage Uber charts I've seen. Drawing some insane fib downward channel BS. This took me literally 5 seconds to make on a monthly chart just to prove how horrible some of these Uber predictions are. Not only is it literally bouncing on the major trendline Uber has and will actually cause it to move up rather quickly (assuming the market is semi bullish or sideways). I don't need any special fib or forecast into 2080. It's really simple which is why I opened today instantly at market open June 18th $55 call options. It was extremely obvious, but man did people have some wacked out drawings showing it falling below some trend line.
There is OBVIOUS trend support and OBVIOUS support sitting on opening highs which a confluence of support. This is going up unless the market tanks and breaks support in which you are NOT right about your garbage elliot wave theory, literally the market crashed through support. Wake up.
Rule#1 the larger pattern ALWAYS prevails. Stop looking at some 10min chart talking about some fib or Elliot wave that you don't even know how to use for god sakes.
Rule#2 Put away your garbage indicators and follow buyer and seller sentiment and THEN draw the pattern. Not force one into it.
UBER - Diamond PatternChecking back in with UBER (See our previous posts to get an idea how we've been charting this one, great calls).
Beautiful Long position if you've followed our previous call on Uber back in August. We ended up buying more in October as well. Went up around 95% on this trade and we had moved our stop loss up to around $52.00. Stop loss was triggered as we exited the Diamond Pattern at the top. A top diamond pattern usually signals a market top and reversal. The price will usually decline the length of the highest and lowest points in the diamond (see yellow dotted line). It appears price has just done that and we now got some relief after hitting the oversold in the RSI. While this Diamond Top signal usually indicates a top or reversal, we did just close above the 200MA again.
Technical Analysis:
1. BULLS: If you're still in this trade or buying in now, watch the 200MA in white. We would like to stay above this for the next week, key levels around $48 is where we would set a stop loss for this set up.
2. BEARS: You have a diamond top pattern, usually signifies a reversal. We also have a gap around the $37 area. This is where we would look for another entry point as well if we long again $37-$31 range.
Fundamentals:
Uber did just post a great earnings call and the country is picking up steam with bars and restaurants beginning to open and ramping up demands for Uber rides. We could see a decrease in Uber eats as people begin to dine out. Rides have also gotten more expensive with a demand in drivers still looming. We could see this decrease as the workforce should increase. Uber had originally planned to be profitable by the end of this year. If they can hit that mark, we can expect a surge in the stock price. Stay tuned.
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Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
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UBER - long setup is cookingLooks like wave 4 of (C) of iv is in progress. Expect to see final push in wave 5 to complete wave (C), then strong rally in wave v to 70+ zone into year end.
Failed Channel BacktestUber gapped up (with the markets) to retest a 200-day trend channel it had recently lost, and the result was a failed test. Tomorrow will confirm an abandoned baby, a rare but powerful bearish signal. Trade is void if open is not below today's range.
$UBER Reversing that downtrend off support Long position holding nicely with a nice bounce off the 200D MA, looking to fill the gap.
UberThe bullish trendline was broken at $51.32. The daily trendline angle is at 11 degrees which is another indication that the bullish trend is loosing steam. Price looks to be testing the equilibrium price to fill a gap from May 5th 2021 before dropping to fill the price gap from Nov 4th 2020.
If price breaks the supply level at $61.36 then wait for price to retest that level to become the new support.
There is no such things as 100% wins. Always proceed with caution and conduct your own analysis.
*Not Financial advice*
