UPST mid-term VIEW Pre Earning LONG

NASDAQ:UPST   Upstart Holdings, Inc.
UPST on the daily chart with 2022-2023 in range shows a downtrend of more than 70% and

now a round bottom reversal. The volume profile shows the high volumes of the high volume

area which is relatively thin and mostly below the current price. That is to say, UPST has a

lot of volume voids to fill on its way back to $162 . The Triple EMA ( 200,100,50) shows

a convergence over a long interval followed by the reversal and now divergence. The

MACD indicator is upgoing as are the trends of the dual RS lines of the RSI indicator. I see

this as a long swing trade or investment while UPST is awaiting earnings next month.

For targets, I plan the red lines generated by the volume profite and so $94 and $161.

UPST is on my current favorite stock list. My current holding includes an option striking $51

for 8/4. I will roll that option over about 8/2 to avoid time decay. Additionally,

I will buy another option striking $75 and expiring on 9/15 costing about $950 at the

market price with the bid/ask spread of about 4%. I expect the combined two call optins

will yield on average 5-7% per trading day and may hold them through the earnings period.

The only downside risk is that an earnings beat is somehow already priced into UPST

and that the momentum will decelerate and fade. Buying the contact cheap and out of

the money seeks to manage that risk.

Trade active:
UPST is directionally undeterred I like it. See also my idea on NVDA, they are cousins and run the same paths.
Trade active:
UPST and NVDA are charging like bulls; will they get tired, worn down, breathless or injured in the process? My answer is NO.


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.