UPWK trade ideas
Upwork upside potentialWe have seen 2 false outbreaks at NASDAQ:UPWK , but now the ADX is rising, +DI is positive, 20 day average is moving over a support, if it moves and stays (eod) over the resistance around 16,15 $ there is a lot of bullish upside potential. NASDAQ:UPWK has shown relative strength compared to the last days sell-off in TVC:NDX - in my opinion this is a nice stock setup, i will observe it
UPWORK PlanHey traders, UPWORK is in a bullish momentum with a large buying volume. It is located on a strong bullish support trend, the TIMEFRAME 1 Min an attempt to continue the sellers in progress. Which is heading towards its last precedent lower and still leaving in its rise. Strong possibility of breaking out the consolidation zone to arrive in a new zone.
And go to the next high if the buyers have an appetite, we can get to the top of the consolidation zone, which is strong support and the next high.
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Gig Economy here to stay! Buy UPWKBull Case:
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
Gig economy winner. $FVRR or $UPWK?FA,
- Structural headwinds through gig economy, freelancing and 'escape the rat race' theme
- 3Y revenue growth 22%
- Improving gross margins. 70%
- Recent insider purchases
- Like shopify, but for talent. Online talent marketplace.
-Value? Market cap half of Fiverr with revenue twice as much.
TA,
- Major trend reversal. Short term moving averages crossing Long term MA
- Trendline support
- 120MA support 4H
- Higher highs and lows
Concerns,
- Less than expected revenue growth during lockdown. YOY growth 19% at $87.5M
Main competitor Fiverr reported YoY growth of 82% at 47.1m. Growth is key.
- Fiverr reporter a net loss of only -$0.1M while UPWK reported a loss of -$10M.
-Freelancers prefer Fiverr over Upwork.
- Fiverr better glassdoor ratings (4.3 Vs. 3.8)
- Higher volume on red days
Seems more like a technical trade considering the above points or a value play. Fiverr is still the better company fundamentally. Until Upwork can show above significant growth rates, the stock would not gain much momentum. 20% growth for a growth stock with people looking for jobs online is not enough in my opinion.
UPWK BUY OR LONG , TARGET UP TO $21 The UPWK "Cup and Handle " pattern has confirmed at $ 15.5 and a small resistance just above has confirmed a pass, now it's a good time to buy.
The price is above the MA200, which shows that the uptrend has stabilized.
UPWK buy : $16
UPWK target : 20.5 +-1
Stop loss : $13.8
Wish you good deals!
$UPWK Director Buys a Sign of Faith in UpWorkInside Buy details
UPWK GRETSCH GREGORY C. Director Aug 11 Buy 14.03 100,000 1,402,990 716,795 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 10 Buy 14.95 221,900 3,317,494 959,272 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 07 Buy 14.79 125,944 1,862,618 616,795 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 07 Buy 14.76 100,000 1,476,130 737,372 Aug 11 09:28 PM
UPWORKUpwork trading into an ascending wedge into close / earnings. Potential to explode or dump. Not staying flat.
UPWK: Starting to Retrace: Next Target $18+Upwork looks like it is about to enter a continuation of previous patterns at the price entry, and I expect the positive wedge to have a current target of $18. This also has long hold profit turnover potential afterwards or you could shorten at the wave and buy the dip. I feel like the patterns are there, and the AO is just repeating itself. Also ADR, and the pivot is quite obvious. That being said, everything I am saying is on an opinion based basis. Do your own due diligence and invest at your own risk.
Upwork ready for another leg higherStop 2 is very wide to prevent against intraday spikes. A close under Stop 1 is my manual stop point. Stop 2 could also be used for conservative position sizing.
UPWK a top gainer, rising +105.26%. Expect Uptrend reversalUpwork (UPWK, $14.82) was one of top quarterly gainers, jumping +105.26% to $14.82 per share. Tickeron A.I.dvisor analyzed 156 stocks in the Packaged Software Industry over the last three months, and discovered that 139 of them (89.06%) charted an Uptrend while 17 of them (10.94%) trended down. Tickeron A.I.dvisor found 25 similar cases when UPWK's price went up 15% within three months. In 25 out of those 25 cases, UPWK's price went down during the following month. Based on these historical data,Tickeron A.I. thinks the odds of an Uptrend reversal for UPWK are 90%.
The Aroon Indicator entered a Downtrend today. Tickeron AI shows that in 54 of 67 cases where UPWK Aroon's Indicator entered a Downtrend, the price fell further within the following month. The odds of a continued Downtrend are 81%.
UPWK new Target 17+heading to next resistance once it breakouts out of the frypan bottom resistance channel
$UPWK Trade setup for Upwork Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The company was founded by Odysseas Tsatalos and Efstratios Karamanlakis in December 2013 and is headquartered in Santa Clara, CA.
UPWK looks to retest the 13s by the end of June or early July11.85 seems to have made a very strong resistance and UPWK has been moving in right direction in the bull triangle for awhile. Price could fall back to 11.85 in the next day or 2, but this will probably only delay the move back to the 13s. Patience will be key here.
Lines Legend
1. Horizontal lines: Used to mark out major resistances and support based on points with larger trading volume (buy & sell), as well as any gap(s).
2. Diagonal lines: These are trend lines to mark out the price points that would if the stock is still bullish or bearish
Technical indicators used
1. VWAP
2. EMA
3. RSI
FIrst post on tradingview, but I have been working with these tools and made a nice run over the last year. Let me know your thoughts :)
