I am bearish for UBER on the short term based on technical analysis and I have pointed everything out I look for. I will explain each aspect from Upper Left to Bottom right in order. Everything is also color coded.
Sell signals: Red sell signals are given by Guth 3x confirm and D+ both of these scripts use formulas based on market to provide accurate sell signals.
MACD: The king of showing divergence is the MACD. As you can see, the green bars are shrinking and fading while a new red bar is starting to form. This shows that buying strength ( green ) is weakening, and selling strength ( red ) is strengthening.
Candle stick analysis: If you look at the last two 30 min candles, you can see there are two long whicks at the top instead of a solid bar, this means the price made it that high but did not close there due to price being too high, which could be a sign of resistance.
Kurotoga Cloud: Finally the teal shaded cloud beneath the candles is the support level for UBER for the 30 min chart. Support is where the price can bounce off of or fall below if selling power is strong enough. The amount of space between the cloud and the candles show me there is room for price to fall.
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Sell signals: Red sell signals are given by Guth 3x confirm and D+ both of these scripts use formulas based on market to provide accurate sell signals.
MACD: The king of showing divergence is the MACD. As you can see, the green bars are shrinking and fading while a new red bar is starting to form. This shows that buying strength ( green ) is weakening, and selling strength ( red ) is strengthening.
Candle stick analysis: If you look at the last two 30 min candles, you can see there are two long whicks at the top instead of a solid bar, this means the price made it that high but did not close there due to price being too high, which could be a sign of resistance.
Kurotoga Cloud: Finally the teal shaded cloud beneath the candles is the support level for UBER for the 30 min chart. Support is where the price can bounce off of or fall below if selling power is strong enough. The amount of space between the cloud and the candles show me there is room for price to fall.
Like the analysis? Comment your favorite stock below and I'll add it to my watchlist and you can see it featured here if you are following. So make sure to follow, and like the analysis if this is the type of technical analysis you are comfortable with.