Long term Buy on UBER cmp $86.34Uber has given a clear breakout on the monthly charts above $82.14. Considering this move i have a target of $140 in coming months.
CMP : $82.14
Expected: $140-155
UBER trade ideas
Uber (UBER): What a ride!Uber (UBER): NYSE:UBER
We've recently added Uber to our portfolio, noting its astonishing 400% rise from the COVID-19 low of $13.71. This surge is significant, and we anticipate that in the current wave 3 we're experiencing, the price could reach between $101 and $201. The precise target seems to lean towards the $101 mark, aligning with the 161.8% extension level. Currently, the high is at $81.86. We expect a pullback in the coming days and weeks to between $59.40 and $52.46, corresponding to the 38.2% to 50% retracement levels.
There's a possibility of forming an Expanded Flat leading to wave 4, a pattern observed in waves 1 and 2, suggesting a potential deviation from the anticipated zigzag or other formations. Thus, surpassing the $81.86 mark would not be incorrect, provided it does not exceed the 138% threshold. Following this wave 4, we foresee the completion of wave 3 at a minimum of $101. A limit order will be placed at the first sign of weakness.
Uber (UBER): Missed the Rally? Here comes new opportunitiesIt's been a while since we last looked at Uber, and the stock has moved perfectly since then. Uber reacted exactly as expected to our desired area, but unfortunately, we didn’t buy any shares at the time. If you did, congratulations – this position is now up 60.8%!
Shares of rideshare companies Uber Technologies and Lyft surged on Friday, following Tesla's underwhelming Robotaxi reveal. Uber has shifted its focus away from developing autonomous vehicles and is instead concentrating on expanding its marketplace for riders and drivers. This shift has created a robust network effect, making it increasingly difficult for competitors to match Uber's scale, according to a recent report by Business Insider.
Uber’s asset-light business model, which doesn't involve owning or maintaining vehicles, has been financially successful, generating $1.7 billion in free cash flow in the second quarter. Now, Uber has reached a new all-time high, and if we look back at the chart, it's easy to see a clear and powerful pattern. After entering our desired area, Uber made a sharp V-shaped correction, followed by a key level retest. In a short period, NYSE:UBER turned bullish, marking a complete turnaround.
We will be closely watching Uber Technologies' upcoming earnings report, scheduled for October 31, 2024. After this event, we’ll update our chart and look for possible new opportunities.
Uber Stock Surges 9% Following Tesla’s Robotaxi RevealUber Technologies Inc. (NYSE: NYSE:UBER ) saw a sharp rise in its stock price, jumping nearly 9% in Friday's trading session. The catalyst for this upward movement appears to be Tesla’s much-anticipated Robotaxi event, which failed to impress investors. Tesla (NASDAQ: NASDAQ:TSLA ) unveiled its Cybercab concept vehicle but fell short of delivering concrete details about the timeline and implementation of its self-driving technology, which reassured investors in companies like Uber that rely on the traditional and autonomous rideshare business.
Why Tesla's Cybercab Fumble Boosts Uber
Tesla’s Robotaxi event was widely expected to present a major disruption to the ridesharing market, but its failure to provide substantial progress toward Level 3 autonomy (where a car can drive itself under certain conditions without human intervention) has given Uber a window to strengthen its position. According to Jefferies analysts, Tesla’s "toothless taxi" ended up being a favorable outcome for Uber, especially since Tesla did not reveal a clear strategy for scaling its robotaxi fleet or any immediate advances in its autonomous vehicle (AV) technology.
Why Uber is Poised to Benefit
Jefferies analysts have indicated that Uber (NYSE: NYSE:UBER ) is in a strong position to capitalize on autonomous driving as AV developers seek partnerships with established rideshare companies rather than attempting to build and manage their own fleets. Uber’s massive global presence and partnerships with autonomous developers, such as Waymo in Austin and Atlanta, give the company an advantage as it can offer fleet management, local regulatory expertise, and fleet optimization services. In the long term, this could help Uber maintain dominance as AV technology matures.
BMO Capital Markets analysts echoed this sentiment, highlighting that the cost of scaling Tesla’s Cybercab project to compete with Uber would be astronomically high, estimating Tesla would need to spend upwards of $100 billion to match Uber's driver supply levels. Given Uber's established infrastructure, the company is better positioned to navigate the ride-hailing market's evolution into the AV era.
In addition, recent developments like Uber's AV partnerships (particularly with Waymo) and its diverse ride-hailing and food delivery operations have made it a more resilient company in the face of technological shifts in the transportation industry. Citi analysts also reiterated a Buy rating on Uber, predicting it will continue to gain from the growing presence of AVs while maintaining its driver supply network.
Technical Analysis
From a technical standpoint, Uber’s stock price has displayed significant bullish momentum. The stock rose by 9.61% on Friday, signaling strong investor confidence. The daily price chart shows a clear gap up pattern, typically a bullish indicator signaling strong buying interest and demand for the stock.
The Relative Strength Index (RSI) has climbed to 76.62, which places it in the overbought zone. While this could indicate that the stock may experience a brief pullback or cooling off, it is also a sign that momentum is currently in favor of the bulls. However, given the stock's recent strength and broader market optimism, a slight retracement could act as a consolidation before resuming its upward trajectory.
Uber’s stock has also broken above several key moving averages (MAs), further underscoring the bullish case. In particular, the stock is trading well above its 50-day and 200-day moving averages, two important indicators for long-term price trends. When a stock maintains its position above these averages, it typically signals that investors are optimistic about the company’s long-term growth potential.
Additionally, analysts expect Uber (NYSE: NYSE:UBER ) to climb toward a key resistance level at the $91 pivot, which represents a psychological and technical level that the stock could test after a period of consolidation or slight regression. The bullish thesis remains intact as long as the stock continues to trade above its key moving averages and fundamental growth factors, such as its AV partnerships, support future growth.
Outlook: Uber’s Path to Continued Growth
Despite Tesla’s ambitious plans, the details surrounding its robotaxi fleet remain vague, leaving Uber well-positioned to continue dominating the mobility market for the foreseeable future. As more AV developers seek partnerships rather than building standalone fleets, Uber will be the go-to platform for AV integration into public transportation systems.
In conclusion, the failure of Tesla to provide actionable details about its robotaxi service has reinforced Uber’s role as the dominant player in the ride-hailing space, with strong potential to benefit from future AV integration.
UBER - Long trade - Still room for more upsideUBER is in uptrend from last month, little late here. Low 60's would been idle long entry.
Long anywhere here
Stop loss - 70sh
Target 1 - 80
Target 2 - 85
Levels to manage risks while trading $UBER on the bullish side"We believe robotaxis could significantly expand Uber's mobility total address market, given the resulting increase in supply would drive lower-priced autonomous offerings over time that expand the use-cases for rideshare," the Jefferies note said Friday.
"The long-term autonomous debate is far from resolved, but we don't think We, Robot showed us anything to believe the slope of autonomous adoption will be any steeper than we previously expected," Morgan Stanley analyst Brian Nowak wrote Friday.
#Uber Uber is testing previous resistance turn support and showing bullish characteristic
Above 200 daily moving perfect risk to reward ratio
Dyor!!
UBER Pulling back to key levelOrderly pullback back to a large head and shoulder bottom base sets NYSE:UBER to an interesting pullback buy setup.
Autonomous driving makes this one an interesting growth play and on point with #AI theme.
As always, manage risk. Nothing ever is a sure thing in trading.
Break and retest on UBER! 🔉Sound on!🔉
Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
UBER Long swing~3 month swing idea
Cup breakout and retest, trend continuation with a target of ~90 on the 1.618 fib extension
Uber Technologies Uber witnessed a strong rebound after forming a new higher low at 67.12$, violating the last peak 74.50 - 76.50$. and the confirmation of this breakout by remaining above 76.50$, will confirm the current uptrend, triggering further rises near 78.85$ - 81.23$ - 82.20$ - 84$ in the short-term.
The stop-loss lies below 73.45$.
the indicators are heading toward the positive side, which confirms the mentioned positive scenario.
The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.
Uber: Short TripUBER briefly dipped back into the magenta Target Zone between $52.89 and $68.19 after our last update, but has since fully recovered from this setback. Investors therefore once again had the opportunity to open long positions. We continue to keep this range active, but primarily expect an imminent rise to well above the resistance at $81.87, where we anticipate the high of the superordinate wave 3 in turquoise.
Tight Squeeze in Uber Uber Technologies has drifted sideways for most of the year, but some traders may think it’s getting ready to move.
The first pattern on today’s chart is the previous all-time high of $64.05 from 2021. UBER bounced at this level in June and is trying to stabilize slightly above it this month. That may suggest that support has developed above old resistance.
Second, the 50-day simple moving average (SMA) is near the 100-day SMA. Both are near the 200-day SMA. Bollinger Bandwidth has also narrowed. Could that neutrality morph into increased movement?
Third, the ride-sharing company gapped higher after its last earnings report. It jumped again on Friday after expanding its partnership with Waymo. Those pops may reflect positive sentiment.
Finally, the last rally pushed UBER above a short-term falling trendline. That potential breakout and the higher monthly low may also suggest buyers are in the driver’s seat.
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Uber Expands Waymo Driverless Rides to Austin and AtlantaUber Technologies Inc. (NYSE: NYSE:UBER ) is making waves in the ride-share and autonomous vehicle industries with its latest announcement to expand its partnership with Waymo, the self-driving car unit of Alphabet Inc. ( NASDAQ:GOOGL ). Starting early next year, Uber plans to bring driverless Waymo vehicles to Austin, Texas, and Atlanta, Georgia, as it continues to lead the shift toward autonomous mobility. Here's a closer look at Uber's fundamental developments and technical outlook following this major expansion news.
Expansion into New Markets
Uber’s partnership with Waymo will see the deployment of fully autonomous, all-electric Jaguar I-PACE vehicles in Austin and Atlanta. This follows the initial rollout in Phoenix, Arizona, where Uber has received positive feedback from riders. By managing and dispatching Waymo’s fleet, Uber aims to grow the number of driverless vehicles in these cities to hundreds over time, enhancing the ride-hailing experience and setting the stage for more widespread autonomous vehicle adoption.
Growing Partnerships
This partnership underscores Uber’s strategic pivot to leverage external autonomous technology providers instead of developing its own self-driving units, which it sold off in 2020. In addition to Waymo, Uber is collaborating with General Motors' Cruise, which will add its self-driving cars to the Uber platform next year. These partnerships align with Uber's broader goal of converting its fleet to green energy, enhancing sustainability while tapping into cutting-edge technologies.
Financial Impact and Market Response
Uber shares (NYSE: NYSE:UBER ) spiked 5% to $71.55 following the announcement, signaling investor optimism about the company’s future in autonomous ride-hailing. The expansion into Austin and Atlanta comes at a critical juncture for self-driving firms, which face regulatory scrutiny over safety concerns. However, Uber’s careful integration of Waymo’s proven technology could help mitigate these challenges.
Uber’s stock performance has been strong this year, with shares climbing over 16%. This growth reflects confidence in Uber’s adaptability and future earnings potential, as it continues to diversify its services and expand its market reach.
Technical Outlook
Technically, Uber stock (NYSE: NYSE:UBER ) shows strong momentum, with the price trading above key moving averages—the 50-day, 100-day, and 200-day MAs. This alignment suggests a sustained bullish trend, reinforcing positive sentiment among investors. The Relative Strength Index (RSI) is at 54.35, indicating the stock is neither overbought nor oversold, leaving room for potential upward movement.
Key Support and Resistance Levels
Uber’s current support level lies around the $67 mark, a crucial pivot point that has acted as a foundation for recent gains. A dip below this level could trigger a pullback towards the one-month low of $54, corresponding with the December 2020 pivot. Investors should watch this level closely, as a breach could lead to a deeper correction.
On the upside, resistance is likely to be tested around $75, a key psychological and technical barrier. Breaking above this level could see the stock target new highs as Uber (NYSE: NYSE:UBER ) continues to benefit from its autonomous vehicle strategy and market expansion.
Investor Outlook
Uber’s expanding partnerships in autonomous driving position it well for future growth in the ride-hailing sector, where innovation and technology integration are paramount. The positive technical indicators and supportive fundamental backdrop create a favorable environment for potential gains. However, investors should remain vigilant to key support levels and broader market conditions, which could impact Uber’s stock performance in the near term.
Conclusion
Uber’s commitment to scaling its driverless car offerings through partnerships with Waymo and other autonomous vehicle providers marks a significant step in its evolution. As the company expands into new markets and enhances its technology offerings, Uber is poised to solidify its position at the forefront of the ride-sharing and autonomous mobility revolution. With promising technical signals and robust market strategies, Uber remains a compelling stock to watch in the autonomous vehicle space.
Uber ShortSelling Uber, technically looks good and weak, hope to ride it down to the blue line
I dont know what their fundementals are, we can only probably know after the fact anyway
UBER breaking supportUber facing pretty stiff resistance without much support beneath it. Once the trend line breaks we're heading towards $60 or lower.
UBER 1-4 week swing IdeaNYSE:UBER Weekly Idea
Research price = 73.13
Trigger price = 1hr candle close above 74.30
Entry = Prefer a retest of 74.30 after confirm close
This is my ema cross strategy, with exits based on ATR multipliers, and a time limit. This time though, the trigger was set on the weekly time frame which can indicate a longer-term swing. Normally I would enter at candle open (Tuesday), but this 74.30 level is a very big pivot point for this stock, and the current range high, which is why I want to wait to see how it response there.
I love each of the time frame charts on this, but once I get confirmation of entry, I'll try and stick this out so long as the daily close stays above the 12ema
ALL LEVELS CAN CHANGE DEPENDING ON ACTUAL ENTRY AND S&D ZONES FORMED
Entry = 74.30 retest (will choose a strike that is probably in Oct with around .80 delta. Not 100% yet)
SL: 73.5 (just below current 1hr supply)
TP1: 75.40 (July high)
TP2: 76.50 (liquidity level from April)
TP3: 82.14 (ATHs)
Exit by: no specific end date on this one
Exit if: Daily candle close underneath the 12d EMA
I cannot stress enough that UBER is currently within this range of about 71 to 74.
Price could very well test the high of the range and head right back down, with that said though, this would be a big range breakout, so the entry could simply be on a fast break of the range with volume, with a tight stop at that 73.5-.6 level. If it's a slower burn, I'll look for price to close above on a smaller time frame (1hr) and pull back with signs of turning 74.30 into support.
XLI is also on a tear right now, closing at ATHs, which UBER is a holding within.
UBER long . US Stock70 above breakout possible
72/73/75.50 expected to test soon
75.50 above next level 78/82 to test
Uber (NYSE: $UBER) Stock Jumps 8% on Strong Q2 Reports Key Takeaways:
- Uber's second-quarter earnings significantly exceeded analysts' expectations, with profits more than doubling to $1.02 billion.
- Gross bookings increased by 19% year-over-year, with strong performance across both Mobility and Delivery segments.
- Uber's stock buyback plan, initiated during Q2, is expected to "ramp" over the next several quarters.
- The company announced partnerships with BYD for electric vehicles and potential autonomous driving capabilities, as well as a new collaboration with Instacart.
Uber Technologies Inc. (NYSE: UBER) has reported impressive second-quarter results, with earnings surpassing Wall Street expectations and driving an 8% surge in its stock price. The ridesharing giant’s performance highlights its robust growth trajectory and strategic initiatives to bolster its market position.
Strong Q2 Financial Performance
Uber's second-quarter earnings report showcased a stellar performance, with the company achieving a net income of $1.02 billion, more than double the $394 million reported in the same quarter last year. This impressive profit jump is a testament to Uber's effective cost management and strong revenue growth.
The company’s revenue for the quarter climbed 16% year-over-year to $10.7 billion, beating Visible Alpha consensus estimates. Gross bookings grew by 19% to $39.95 billion, with the Mobility division contributing $20.6 billion and the Delivery segment, including Uber Eats, adding $18.1 billion.
Strategic Initiatives and Partnerships
Uber's strategic initiatives are also playing a crucial role in its growth story. The company recently announced a partnership with Chinese electric vehicle maker BYD to introduce approximately 100,000 electric vehicles (EVs) to Uber's global fleet. This collaboration not only supports Uber's sustainability goals but also positions the company to leverage autonomous vehicle technology in the future.
In addition to the BYD partnership, Uber has initiated its first stock buyback plan, purchasing around $325 million of its own stock during the second quarter. JPMorgan analysts have expressed optimism about this move, predicting that the buyback program will "ramp" over the next several quarters, potentially boosting shareholder value.
Market Response and Future Outlook
Following the earnings announcement, Uber shares (NYSE: UBER) jumped 8%, reaching $60.94 shortly after the market opened on Tuesday. Despite this positive movement, Uber shares were down 5% for the year as of Monday’s close. However, the recent rally has positioned the stock to end the year on a more positive note.
As of the time of writing, UBER shares (NYSE: NYSE:UBER ) have gained 7.22% from the -3.22% low observed prior to today's market opening. The Relative Strength Index (RSI) of 42 suggests the potential for further growth. Analysis of the daily price chart reveals that NYSE:UBER stock is exhibiting perpendicular trading in relation to its respective moving averages (MA), indicating a state of balanced momentum between buyers and sellers.
CEO Dara Khosrowshahi emphasized the company's growth prospects, particularly in its core Mobility business and the increasing frequency of food and trip orders through its membership subscribers. For the third quarter, Uber projects gross bookings to be between $40.25 billion and $41.75 billion, with adjusted earnings anticipated to range from $1.58 billion to $1.68 billion.
Expanding Consumer Base and Technology Integration
Uber's consumer base continues to expand, with "monthly active platform consumers" (MAPCs) reaching 156 million in the second quarter, up from 137 million a year earlier. The company facilitated 2.77 billion trips during the quarter, a significant increase from 2.28 billion trips in the same period last year.
In addition to its partnership with BYD, Uber is also collaborating with Instacart to integrate a "restaurants" tab into the grocery delivery app. This feature allows users to order from restaurants and have deliveries fulfilled by Uber Eats, further enhancing Uber’s delivery service capabilities.
Looking Ahead
Uber's second-quarter performance underscores the company's resilience and strategic agility in navigating market challenges and leveraging growth opportunities. With a focus on expanding its EV fleet, enhancing autonomous vehicle capabilities, and increasing shareholder value through stock buybacks, Uber is well-positioned for continued growth.
8/5/24 - $uber - W/b buyer mid 50s in any other tape8/5/24 :: VROCKSTAR :: NYSE:UBER
W/b buyer mid 50s in any other tape
- high 20s PE on '25 #s not "value" but this thing is the definition of moat
- high teens sales growth and 3% FCF yields beat anything sold at Papa Powell's Dog Shop
- love the product, such a go to
- still has some Elon-one-day-will-hurt-stonk
- would own this EPS on any other occasion at this valuation and think there's a pop all else equal (all else equal being the key here bc we are whacky doodle land wrt the Fed emergency mtg etc. etc. and the JPY cray cray no solution just yet)
- i think i remember NYSE:UBER being a softbank baby too, so there's that.
TL;DR - i'd be dip buying even tho i'd typically play this thing long. just too much tape risk. low 50s seems like a good entry if/does happen.
Maximize Gains with Options for $UBER: Option Chain Outlook The NYSE:UBER stock price had been in an uptrend until it reached around the $75 level, after which it entered a correction phase. The price is currently near a long-term upward trendline, which could act as strong support.
Volatility: The IVRank (Implied Volatility Rank) is 107.5, indicating that the current volatility is high compared to the values observed over the past year. The IVx value is 73.6, also indicating high volatility.
IVx 5-day Change: +7.8%, showing a significant increase in volatility over the past 5 days. This is common in the period leading up to earnings as investors prepare for the announcement.
Price Skew: The 27.3% skew indicates that call options are more in demand, which could suggest that investors are expecting a bullish movement post-earnings. A solid skew suggests higher demand for call options, indicating a potential bullish sentiment among investors.
IVx (46 DTE): 73.6, indicating high volatility expected over the next 46 days. Volatility is likely to remain high around the earnings report, which is favorable for selling option premiums.
Exp.mV (46 DTE): The expected move over the next 46 days is $7.6, indicating that investors are pricing significant price movement after the earnings report.
