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.
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.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.