$UBER Technologies Next Fibonacci trade Setup
Potential long above Fib resistance $ 53.85
1.618 expansion target $59.00
UBER trade ideas
8H UBER LONGUber eats is killing it, and with current situation with Covid 19 not going anywhere in the news media anytime soon, we can see more and more people ordering in. Their app is the cleanest of all the rideshare food delivery services.
Uber - Buys Postmates for $2.65 BillionAbsolutely beautiful play on Uber so far. If you check our previous charts, we've been buying $Uber between the $28-$33 range and up +60% on this one so far. Anything under that $45 IPO price on this one was a gift. We've moved up our stop loss to lock in out gains, but we still love this stock for the long term haul.
Uber recently closed it's deal with Postmates as well giving it a larger market share in the food delivery game as COVID19 numbers continue to rise and people keep ordering takeout home. Uber is also now in talks to sell it's flying taxi division to Joby Aviation as part of it's mission to head into profitability in 2021.
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Uber: Breaking out to a new rangeUber stands to benefit from possible recovery with positive vaccine news
after hitting our previous projection, yesterday Uber broke out into a new price range and on good volume - our next projection based on price structure and volatility is a measured move of ~$13 from a base of $46.5 -- takes us to $59.5
the confirmation we need is that with a pull back, Uber bulls manage to keep the stock above support at $51.50 to $52 -- i have marked the possible path in white - we'll see.
the weekly view supports this scenario with positive sentiment and an expanding buying pressure.
UBER IHS Breakout on the WeeklyClassic Inverse Head & SHoulders Breakout on the Weekly chart here in UBER. 68 PT
TIGHT BASE AND HIGH VOLUM BUY UBER ABOUT 54$Uber officially completes Postmates acquisition
Uber today announced the official completion of its Postmates acquisition deal, which it announced originally back in July. The all-stock deal, valued at around $2.65 billion at the time of its disclosure, sees Postmates join Uber, while continuing to operate as a separate service with its own branding and front end – while some back-end operations, including a shared pool of drivers, will merge.
1% CAPITAL
Far From SupportUber is far from support and there is a sell signal, with the market in a euphoric state due to investor excitement over a covid vaccine. We can expect the stock to correct any moment. With a high RSI of 68 and a sell signal, we can expect the stock to move closer to support as indicated by the Kurutoga cloud. MACD still shows room for growth so we should expect to see this stock rise just a tad more before falling close to support. I expect support to be reached this week.
UBER STRONG: WHERE DOES IT STOP?UBER ABOVE IPO PRICE.
PRICE DISCOVERY NOW.
ECONOMIES RE-OPENING: BULLISH
UBER - Rising WedgeThis usually occurs when a security’s price has been rising over time
The trend lines drawn above and below the price chart pattern can converge to help a trader or analyst anticipate a breakout reversal. While price can be out of either trend line, wedge patterns have a tendency to break in the opposite direction from the trend lines.
Therefore, rising wedge patterns indicate the more likely potential of falling prices after a breakout of the lower trend line. Traders can make bearish trades after the breakout by selling the security short or using derivatives such as futures or options, depending on the security being charted. These trades would seek to profit on the potential that prices will fall.
You will learn the best place where we can trade this instrument at low risk.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
UBER Updated chart for UBER, still short on Uber and waiting for price action to make a move to the downside. Possible going back to the same level as the breakout at around $40 before an even higher and more sustainable move to the upside.
will UBER reach new highs, hold support at 48 range, or fall?If UBER doesn't hold new support at 48 range it could fill a large gap back down. potential short if UBER doesn't hold support at this high level.
Uber: Grab some butter, Uber is toastIn the near term, expect a correction that might dip as low as the bottom price target followed a consolidation centering on the higher target of $36.
After Uber has finished its correction, expect it to target $60+.
Basis for analysis
Uber has finished or is finishing an Elliott Wave cycle Wave 1 following a leading diagonal structure. As depicted, the wave comprises a primary, uptrending ABC structure consisting of two minor, uptrending ABC structures and an intermediate, downtrending WXY structure. Also, Uber continues to be Overbought.
Uber: Coffee! Watch out for continuation.It's been exactly 1 year -to the day- since I published the last analysis, so here is to the anniversary .
UBER saw a huge breakout after Weekly Lower Highs :
After the breakout, on the smaller timeframe now, we're building a nice C&H pattern with potential for bull continuation.
Fundamentals: Think about which companies got disproportionately punished by Covid, which under normal circumstances is a standard on your home screen?
=> As Chamath Palihapitiya put it nicely just recently: If you're not ready to invest in the companies on your home screen, then what else?
UBER Long1) BO neckline of double bottom
2) Volume buying coming in
3) Tight squeeze (red dot)
4) Bright first green histo
5) MACD to golden cross
6) Dark red histo gets smaller
