UBER trade ideas
UBER Breakout ImminentThat 9 EMA is lurking underneath that 21 EMA
Sitting at an area of support
Got a bullish catalyst with some price target upgrades
Sitting above the point of control on the vol profile
Trading at key fib levels.
We should see a 9/21 bullish cross at the upside cross of the 50% fib, to try to retest the downtrend resistance.
UBERLooks like some bad news hit Uber again with UK drivers becoming "employees" not 1099 contractors.
Also the change to reclassify the UK workers will mean that UBER will pay $300m in order to make this change & comply. I stay long and suggest buying between the levels I marked off. The CEO Dara Khosrowshahi has said that UBER eats has made this a completely different company & I can see this as well with UBER eats now disrupting food delivery plus COVID 19 restrictions.
Also Wall ST is so super bearish uber so I stay long (got to take the opposite side of that).
My theory is that the Wall St banks & funds parade their talking heads all over the MSM shit talking UBER to suppress the price & accumulate. Don't believe me I have a good example Amazon.
DYOR guys and make your own choices.