Can $UBER > $90 before the election in 2024?Note from Daily Argus Market Mover on 07/18:
Uber operates networks for ride-sharing, carpooling, food delivery, etc. Its smartphone app enables consumers to contact drivers, arrange a meeting point, and get to a destination in a cash-free transaction. Uber has operations in more than 700 cities on six continents.
Since an IPO in the mid-$40s in 2019, UBER has been on quite a roller coaster ride. The stock eventually cratered to $14 during the pandemic. That was followed by a massive rally to $63 by February 2021. By June 2022, the shares were back to $20. While it took time to bottom, UBER got in gear early this year, rising to $38 by February before tracing out a bull flag back to the 21-day exponential. The stock soared in early May on better-than-expected results and has been crawlinghigher over the past couple of months.
Argus put a stop-loss just below chart and moving-average support at $41. We would take profits at $50, with larger long-term gains possible.
