Christmas ShortUber has had a lot of recent small bodied candles with bullish wicks. Small body represents small price movement and the long bull wicks show where highs reached during that session. Based off the candles I can see UBER briefly hitting $54 a share but the MACD shows growing bearish divergence and D+ also shows growing divergence. Bollinger Bands have initiated a double sell signal, and RSI is flying high greatly overbought at 63.70.
My trading plan is to short it to $52 a share by 1/8
I will buy 10 contracts as close to $1.00 a contract as possible and let the market take its course.
Looking to make a modest profit of $1-2k
Comment your thoughts below!