UPST on the daily chart is 65% below its highs of March 22 . It rose above the long term POC
line of the volume profile two months ago after a favorable earnings report. Another earnings
will report in a month. There has been very little trading above the current price in the visible
range. This means there is little volume resistance to price rise. Price is presently at the
longterm mean VWAP anchored 16 months in the past and got there by rising from the support
of the line one standard deviation below the mean aVWAP. On the zero-lag MACD, the lines
have first crossed under the histogram and then ascended in parallel above the zero line in
yet another sign of bullish momentum. Lastly, the three in one indicator including money
flow is all green.
I readily conclude that UPST is set up well for a long swing trade targetting just below the
mentioned swing highs and so $160 or so. This would be about 200% while setting a stop loss
at $50. I believe the trade offers a great potential reward to risk and so will open this
position while identifying an entry on the 15-30 minute chart looking for a pivot low.
Trade active
⋅
The price moved up 3% then faded 1/2 of that. Stop loss moved to break-even. Trade is now risk and stress free. Idea validated quickly. Accordingly, I have bought a call option with a strike of $60 for August 18th.
Trade active
⋅
Big surge today and then a pullback. Added to the position on the intraday low. Now trading without risk overall position has unrealized profits. Will take a piece away on Friday morning.
Trade active
⋅
Nice leg up after the intraday pullback. IMO shorts are fearful and getting obliterated. They may be liquidating their positions and adding to the buying pressure. No matter it is all good.
Trade active
⋅
Another pop now watching for a pullback. Closed 20% of the position Now on watch for a pullback from which to reload. On the other hand, a squeeze could be pushing price up in continuation without a deep pullback. Time will tell.
Trade active
⋅
Indicators are suggesting a top or even an impending reversal including the mass index. Accordingly, I am taking another 30% off the position and will watch price action for continuation with the remaining 50%.
@availableFrien9244, I have drawn/ charted the levels of significance here for a contemplated long trade. Review and reply if any questions arise.
availableFrien9244
⋅
@AwesomeAvani, many thanks for the detaled analysis! Whats you longer term view on UPST?
AwesomeAvani
⋅
@availableFrien9244, As part of the AI and Tech trends and sectors my view is more of the same in price action upwards and positive ahead albeit with periods of consolidation and correction from time to time as things moving foward. It is on my top 10 stock list for the time being.
availableFrien9244
⋅
@AwesomeAvani, UPST moved nicely today in line with your analysis. Perfect!
AwesomeAvani
⋅
@availableFrien9244, Yeah I am figuring that a squeeze is building but there could be a pullback. See trade update above.