Uber the paradox for NYSE:UBER by Needlez33

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It failed to break out of a rising wedge , then it failed to break out of an ascending triangle , and now it found support at 30$. With all intents and purposes the chart and indicators look really bad and set to go down further. The wildcard is the ER. The only reason I'm neutral. I can see them harping on their recent acquisition of grubhub and forecasting large future revenues which will affect overall sentiment. If they announce future acquisitions in the works it would be icing on the cake. Personally I'm not going to open a position until after ER and because it lands midweek I'd purchase a calendar spread to cut my call/put cost. like if you like so i can do more :)

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good stuff, thanks for the detail. so many here just post gibberish! the indicators do look bad. if Covid reasserts like I expect, or if there's a correction as I expect, I'd like to be shorting this baby. It really has yet to take any hit from the pandemic which is hard to believe given that it's so dependent on mobility/lack of distance.

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scrybbler

@scrybbler, thank you for the kind words. I think their uber eats has been keeping them afloat and buying out their competition (grubhub) was brilliant and definitely will work in their favor. I don't expect them to report high revenues this week but i strongly feel like that's not going to be highlighted by the market. Weird, i know but it's the strange times we're in. Rationale has taken a back seat lol.

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