This could be my 2021 Jackpot; Along with Pot StocksUBER.
I am seeing Uber is crafting the same chart pattern as PTON.
The stock price movement has been resilient. It performed better than I expected. With the California legal issue out of the way and Uber Eat performing spectacularly, this should jump to triple digit in stock price.
UBER trade ideas
Keeping It CleanThis chart is free of clutter, I would just like to show the sell signal on the 4Hr. I have purchased 75 contracts for UBER to hit $45 a share by next Friday. If it hits that strike price at any point between now and then I will be selling my position.
This is not just a single sell signal, there are many sell signals on every chart from the 1min to the 4hr and Bollinger Bands are giving sell signals on every time frame as well. With an extremely high RSI we can expect UBER to drop.
UBER Over Bought UBER is extremely overbought. Here is a breakdown of the technical indicators and my plan.
With an RSI of 91.04 for the last 14 two hour candles it's a given that UBER is madly overbought.
However, Bollinger bands have not crossed in a downward direction giving a sell signal, and the MACD shows some room to grow still. Unless the downward curve happens during the first two hours of Mondays open.
This stock remains on my watchlist and I will most likely be shorting once I get a sell signal on both the Bollinger Bands and MACD.
UBER: Ascending Triangle, confirmedAscending Triangle, Confirmed
Pros:
Descending volume during formation
Peak volume at break out
PPS above 50MA and 200MA
200MA ascending
250RSI above 50
RS ascending and above 0
ATR ascending, more volatility
R/R ratio above 13
Cons:
Currently hitting resistance at 45$
If it breaks it, no resistance above.
PT = 56.20$
Uber: get ready for an exciting ride!UBER has been pushing for a breakout for sometime now. check out our previous posts linked below.
this week had couple of great signs (of strength) - the reaction to the California law suit and the reaction to qtrly earnings - but even before that, price action indicated the persistence of UBER bulls and the "drive" to move upward.
what the chart tells us?
we have a positive momentum that is still building (weekly) and a good buy pressure/demand - this set up is more for the mid to long term (6 months+) , and as long as UBER bulls can defend the new price range they just gained, and stay above $40 we're looking at a possible continuation to the upside. if the move up materializes, our next target is $47 then a calculated projection to the $53 - $55 range. a possible ~23% upside.
(visit this post in future and use the "Load New Bars" tool to see how accurate were these projections)
Note: we need to be extra cautious with trading these days - everyone is looking at riding the next "Zoom" with a lot of Pump & Dump going on - and the market is in a volatile phase - please manage your risk accordingly!
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).
UBER - The tech keeps on going...Having the opportunity to work closely with the commercial auto industry gives me a greater perspective on how ride-sharing service companies have changed the way in which we use transportation. Ride-sharing service companies are no longer limiting their services for the transportation of people, food and product delivery have gained strength as additional revenue streams for these companies. Matter fact, revenue from delivery services increased about 70% according to UBER's Q2 results.
According to sources, about 50,000 people on a monthly basis submit applications to become drivers in the main ride-sharing service companies such as UBER and LYFT. Besides potential solid fundamentals, UBER stock has been respecting the technicals beautifully.
UBER vs LYFT: A technical comparison.Hello traders and investors! Let’s see what’s going on with UBER and LYFT today. Both stocks are doing some impressive movements, so it is a good time to study them.
First, let’s start with UBER. The stock is doing a phenomenal movement today, but if we look at the charts, it just hit a resistance zone today, the black line at $ 41.86, and now it is doing what it seems to be a Spinning Top candlestick pattern .
Either way, UBER must keep trading above the yellow line at $ 38.59, because if it loses it, a pullback to the 21 ema is expected . But despite the fact UBER is moving sideways since June, it seems the trend is slightly more bullish than bearish, and UBER is trying to defeat the resistance at the black line.
I see the 21 ema as an important support, but the red line at $ 32.89 is another support zone. In the worst-case scenario, UBER would hit the blue line at $ 28.53, but it is way too soon to say this.
Today’s gap could be a Breakaway Gap , and if that’s the case, it won’t be filled so soon. But if it is a Common Gap , then it’ll be filed in the next few days, and UBER will be back to the congestion.
I would just keep an eye on the black and yellow lines for now. Now, let’s see LYFT.
Lyft almost hit the previous resistance at the red line, and now it is dropping sharply. The good news is that it just hit a dual support zone , made by the yellow line (previous resistance) and the purple trendline.
The idea of a Breakaway or Common Gap applies here as well , and if LYFT loses its two supports, we’ll see a sharper pullback ahead, and it’ll probably fill the gap.
Honestly, it seems the bulls will have a hard time now to defeat the resistances on UBER and LYFT, and a pullback would be great for the stocks, and it could even bring some opportunities to buy.
In the hourly chart, there’s a reaction starting on LYFT right now, so the support zone is working so far. UBER is still struggling a lot, but today’s low seems to be a Pivot Point , and if UBER loses it, it'll probably lose the yellow line with it, bringing the pullback we mentioned earlier.
The volume increased a lot today, and both stocks are quite speculative, so let’s be cautious here. Either way, these are the most important points to keep in mind for both stocks, and if you like this analysis, please, support it! And follow me to keep in touch with my daily studies.
Trade well.
Hoag's 80% Value Play-Election "sell the news" (Short)Hoag's 80% Value Play
(Election Day Short-SELL THE NEWS)
Uber looks Toppy, Multiple Potential Dbl Tops
(Unconfirmed)
Reasons for Trade:
1. Have retraced to areas of .618-.786, and to + .786
of its range from IPO high and most recent high, respectively
2.At volume high rn, break back into value, and held for 2 consecutive 30m candles,
suggests price will revisit value low 80% of time. VL is at reload long levels
3. MACD internals Looking weak.
4. Was recently oversold, and is hovering near OS
5. Significantly decreasing buy volume impetus, very telling.
RR 4.22:1
Enter trade at confirmation of M top, at break through .786 level on downside
and acceptance into value at $35.96
Stop set at M Top* at $38.25
Move Stop to scratch at touch of value low near potential reload long levels, $26.30. If accepts into
value low, trail stops, 3 highs/Lows method.
Caveat: This is a short trade in the event of unfavorable election results where rideshare worker's rights (gig economy) is on the ballot in California. NYSE:UBER
For entertainment purposes only, not trade advice. DYOR!
Uber Makes One Stop Lower Before Bulling Break#uber Has been building the final right formation of an inverse head and shoulders over the last week. As we see the triangle starting to tighten we can expect to see a breakout soon. Be cautious of the four hour RSI dipping below 50%, indicating we may see another reset of the RSI before we break to the upside.With Tesla showing interest in automation of public transportation and stimulus funding likely going to companies like Uber and others like it, i remain bulling long-term.