If FI didn't get absolutely smoked this week, and earnings next week I'd absolutely be buying here. However, "new finance" and fintech seems to be getting hit hard this month. So with earnings coming up, I'm not going to buy this stock, but I'm tempted to buy a call option.
Going back to the weekly chart, UPST is really close to hitting it's lower upward trendline which is somewhere around 40.
The current price is 46.
The 200 day moving at about 66 (20pts up)
The upper downward trendline (triangle forming) is at about 80. That's a lot of room to move, and a call option seems like limited risk/reward.
On the daily chart, it's currently falling in a falling wedge.
It looks like the perfect scenario for a swing trade.
I'll look at call options on open and update if I initiate a trade.
Going back to the weekly chart, UPST is really close to hitting it's lower upward trendline which is somewhere around 40.
The current price is 46.
The 200 day moving at about 66 (20pts up)
The upper downward trendline (triangle forming) is at about 80. That's a lot of room to move, and a call option seems like limited risk/reward.
On the daily chart, it's currently falling in a falling wedge.
It looks like the perfect scenario for a swing trade.
I'll look at call options on open and update if I initiate a trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.