UiPath Inc. is a recent IPO in 2021 that like most IPOs experience a fast rise and a subsequent sell off. Personally I think there is still a lot more data that I would want to see in terms of price action before I could say one way or another which way it will go. Currently priced at about $70, PATH finds itself right at the MEAN when we look at our 1 hour timeframe ATR Keltner Channels.
It will be interesting to see how things shake out for PATH in the coming week at which time I believe PATH will express through its price action what direction it wants to take. A key support level is $65.63. If PATH significantly breaches this price point we must take another look at our thesis to go long and may even look for higher prices to short PATH. If PATH does hold this support on it's next MEAN regression down then the prices listed above could give guidance as to where some buy opportunities are located.
(Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.)
It will be interesting to see how things shake out for PATH in the coming week at which time I believe PATH will express through its price action what direction it wants to take. A key support level is $65.63. If PATH significantly breaches this price point we must take another look at our thesis to go long and may even look for higher prices to short PATH. If PATH does hold this support on it's next MEAN regression down then the prices listed above could give guidance as to where some buy opportunities are located.
(Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.)