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UBER TECH. DL-,00001UBER TECH. DL-,00001UBER TECH. DL-,00001

UBER TECH. DL-,00001

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UT8 trade ideas

UBER: Enters target zone - with possible upsidetoday or tomorrow we possibly hit target with UBER reaching $38 - one of the good times when projection works well .. see post from 2-3 weeks ago. there's great learning here, that even with the negative pressure across the market last week, the momentum in UBER still managed to survive. we'll hold, since we see a strong momentum that shows possible upside to cross the $40 and long term strength in the stock share your views if you have been riding this wave with me ;) and best of luck ----------------------- How do i read this chart setup we look at the price action (top chart) and recent key S/R price levels, plus the insights from 3 key elements: momentum, sentiment and buy/sell pressure - the calculated short-term price momentum is shown by the UTO blue/amber line - the long term sentiment is represented by the UTO Green/Red area graph - the demand/supply pressure is expressed by the v.viewer green/red area graph - let's call these "the context" How do i trade this chart setup - the Basic rule: nothing can predict what happens tomorrow - but if no external catalysts interfere, it's *highly probable* that a price move with strong momentum that's in alignment with the broader context (sentiment and buy/sell pressure) would continue in the same direction (e.g., a breakout).
NYSE:UBER
by RedKTrader
Uber Potential Breakout, Target $52After a March all-time low (ATL) under $20 a share, UBER took a strong bounce back to the $30 range and looks to be in a consolidation pattern. Special note: There is still much room to the downside that may need to be cleared out. However, the scale and diversity of Uber's product line and growth strategy do have potential. Should UBER post a profitable quarter, this would take off. Strategy for a price move down: Suggestion to set buy ladders at the support lines and Fibonacci retracement. Weight buy orders more heavily to the lower ranges .5 and .786, etc. Strategy for a price move up: Resistance exists around the $38-40 mark. If we see a breakout to these levels with strong volume candles, we would call this confirmation, take a big order, set our stop loss at $35, and take small profits at $50-55 while remaining in the stock. Use this strategy to further reduce your average cost. Elliot wave theory suggests that if we breakout we would be in a wave 3 of 5, which tends to be the longest breakout. Given the potential momentum for a name like UBER we would likely hold in that future scenario. Should either of the above 2 scenarios materialize, we can confirm our strategies and regroup to map out the next potential move up. It I presently give UBER a HOLD rating, with a lean to BUY if only to hold a small position to take advantage of either move. NOTE: ALWAYS TAKE A STOP LOSS IF YOU ARE TRADING A SHORT TIME RANGE WITH LIMITED FUNDS. Disclaimer: I am not a professional and am self-taught. My charts are made for my own education to improve my trading strategies over time. I am always open to feedback or being pointed in the direction of resources to up my game. Thank you!
NYSE:UBERLong
by Shadowfigure
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