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UBER chart analysisUBER did not have the best run since its market debut. Price was slowly declining after IPO and the current market cap is $56.91B. After hitting bottom in March, investors became interested in buying the cheap stock. Most investment funds and banks have price projections from $45 to $54 since then. UBER has also started to diversify its business, going for UBER EATs to compete with other delivery giants in the big pandemic market, where grocery shopping got heavily shifted to online ordering and delivery. Today company announced that it is in talks with investors regarding a stake in its Uber Freight division, according to Bloomberg that cited people with knowledge of the matter. Potential to raise $500 million in a funding round that would value the freight division around $4 billion after the deal, the report said. Nothing has been finalized yet, so the whole deal could change or be scrapped. But shows UBER’s commitment to diversify. And news moves the stocks. Let us look at 1-hour chart for a technical view. UBER IPO opened around $45 in May 2019 and since then the price has been in a steady wave decline, an a-b-c pattern that bottomed at $13.75 in March this year after the pandemic sell off. As the stocks of the world steadily climbed higher on unprecedented financial stimulus, UBER rode the wave along with everyone else, enjoying a massive surge in stock price. Elliott wave count shows a clear 1-2-3-4-5 pattern ahead. We had a sharp bounce on wave 1 as investors rushed in to buy the stock on the cheap and a sharp wave 2 correction, followed by a bullish channel in wave 3. So far, the price finished wave 4, retracing a perfect 61.8% of wave 3 and just touching the end of wave 1. It shows great respect to EW rules. We also see a formation of the inverse Head & Shoulders pattern here with RSI divergence. Today at the close of the US session, UBER was priced at $32.79, also right on the cross of the 50SMA and 200SMA. The right shoulder of the pattern, or a corrective wave 2 within a bigger wave 5, is also a 61.8% retracement. More confirmation of a bullish move here is on the break and close above $34.50 resistance, that also serves as the neckline for the inverse H&S pattern. 2nd confirmation is the bullish breakout of the yellow downtrend line from the high of the $47. Please support the idea and share your thoughts on UBER! Good Luck and Stay Healthy!
NYSE:UBER
by Antonio_trader
2
What to measure? Volume or share proportion?What to measure? Volume or share proportion? Recently I keep thinking about what metric I should use to measure the strength of a trend. Is it volume? Of course, the volume would be a handy metric to look for. But let me tell you something: Volume is often a biased figure, because if you only look for volume: (1) You don't have any idea on how much money has been taken out/putting in a particular stock. (2) You don't have any idea on how that amount of money affect your stock For example, a stock with 10M volume and $0.001 each share would be very different from stock with 10k volume but with $10 each share,,,, Or is it Volume*Price? Volume*Price is a very effective way to measure the amount of money putting in a particular stock, but it still does not reveal the magnitude of this amount of money being put into I have a different approach to this matter. Since the pinescript @version4 allows us to plot the marketcap, now we can figure out how money flow impacts a particular stock. Market Capitalisation is the total dollar market value of all of a company's outstanding shares. Let's say it is roughly equal Total shares * Price. And then we have the Volume amount. My idea is that we can interpret the % of shares being traded within a particular point of time by calculating: p % = (Marketcap * volume) /price This p% represents how much proportion of the total supply is being traded. The higher it is, the stronger the current trend and vice versa. The current Blue line that you are seeing is the %p of shares being traded. On some huge stocks like Banks, Apple or CBA it is just a few fractions for any given day. Some other less popular ones could observe ~1-3% of total supply being traded per day. I even applied RSI to the %p. On the 5M time frame with Session Breaks displayed, I can see that on a daily basis the market moves in CYCLES. The majority of money/volume that actually moves the market usually climaxed at the beginning/end of the market session and cooling down in midday. (As people usually say stocks will come up again in the afternoon). I am also looking to integrate this one with the Volume Profile on higher timeframes. You can apply this observation to hop on the bandwagon or to day trade. It is up to you.
NASDAQ:MSFT
by Vu_Nguyen
2
TPC stock going up after finally reporting good results Tutor Perini Corp NYSE:TPC stock price plummeted hard in the last year. It went from $17ish levels in Nov19 all the way to its bottom at $2.50 during the market panic this Mar20. Since then the stock is going up (yesterday close at $7.77). Governments across the globe are planning massive infrastructure investments to support their economies. As construction and engineering provider and a government contractor , TPC is in a good position to perform in the upcoming crisis much better than the market ( TVC:SPX , NASDAQ:NDAQ CURRENCYCOM:US100 CURRENCYCOM:US30 CURRENCYCOM:EU50 XETR:DAX ). The TPC stock has experienced a drawdown throughout 2019. The company was consistently reporting bad results and consecutive Earning Reports ended with a negative surprise. The hypothesis that government contractors have a good chance to overcome this crisis well is supported by TPC's last Earnings Report. The current uptrend is supported by significantly good results, with a surprise of +0.28 (467%) . This is in line with analyst targets on TipRanks, where TPC is targeted in the range of $16-$18 . Targets at $17ish levels might seem out of bounds given the recent TPC's stock development, however, it is exactly the levels where the stock was several times during 2019, while consistently reporting bad results. In the upcoming months, we expect the TPC price to be heading towards $11 levels, until the next earnings report. It is definitely a good stock for the upcoming quarter. Whether it grows even more, or even all the way back to $17 will highly depend on upcoming Earning Reports.
NYSE:TPCLong
by vdostalik
HDFC Sell Setup By Elliote wave + Price Action Breakout + EMABefore we understand HDFC in Multiple time frame, its takes hours to analysis a single chart so please like it. Those who are doing day trading they can sell Hdfc by doing average easy target to reach 1300 level with upcoming days. When you look toward HDFC in a weekly time frame Elliote Wave: =>> As you can see in above chart Impulsive wave (1, 2, 3, 4, 5) done by HDFC bank With fib level 0.382 Which is at wave 4 According to wave principle Now it's riding on Corrective Wave(A, B, C) B which is looking downtrend trend target 1050 Weekly Obviously its takes Time at this level Just for the view. EMA: As you can see I put EMA indicator of 50, 100, 200 Which gives good support to HDFC and Now its Break With retest done by 200 EMA Which is a good sign for Showing Selling Setup. Price Action breakout: =>> In above chart As you can see it breaks a lower-Value after touches previous control price and shifted back to new control price its good sign of changing reversal pattern after a good uptrend. Inside Bar: Weekly inside bar close below the previous one which is Showing selling pressure. Thanks
HShort
by Trading_buddy