UBER Break-out above the Bull Flag. $34.20 and $38.00 eyed.

Uber Technologies (UBER) broke today above the Bull Flag pattern os September and at the same time the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). By doing so it reached the 1W MA50 (red trend-line) for the first time since September 15 where it had an emphatic rejection.

Today's break-out is major as the 1D RSI also broke above its Lower Highs trend-line, so we turn bullish again on Uber, targeting the $34.20 Resistance and if we close above it, then the 1W MA100 (green trend-line) in extension around $38.00.

Our long-term target for this stock is $48.50, which is the -1.0 Fibonacci extension and interestingly enough, happens to be below the October 2021 Resistance.




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