#uber Has been building the final right formation of an inverse head and shoulders over the last week. As we see the triangle starting to tighten we can expect to see a breakout soon. Be cautious of the four hour RSI dipping below 50%, indicating we may see another reset of the RSI before we break to the upside.With Tesla showing interest in automation of public...
Bullish signal based on today’s closing price and volume.
Closing price was trending lower until today
Price closed higher than yesterday
Volume higher than previous 10 days
Price broke above 10 dma (cyan)
Price broke above 20 dma (blue)
Price bounced at about 50 dma (dark blue)
Might be difficult for Uber fans to find this chart because I had to overlay Uber on a cryptocurrency chart to have the time scale include all days of the week.
Target price ranges between $63 and $90, but $66 is highly probably based on wedge, EW, and Fib as shown in chart.
Displayed in the chart is as follows:
Wyckoff accumulation contained by a wedge...
Don’t fall for Uber’s trick, instead play nice and wait for it’s Treat. Yesterday, Uber didn’t gain like most of the market did. Instead, Uber faked a close under 20 DMA but bounced upwards right at close. That bounce coincides with a long term trend line that had been acting as resistance but now appears to act as support.
The pink vertical lines indicate...
UBER has been building an IPO base for a while. Similar in look to SPOT and BYND before they broke out. And if you want to go to the 'way back machine' check out CHGG after it IPO'd. UBER has a chance to provide some huge returns. Watch for a break of the downtrend line and follow-through above the blue shaded area. Top of the watch list for me!
Hoag's 80% Value Play
(Election Day Short-SELL THE NEWS)
Uber looks Toppy, Multiple Potential Dbl Tops
Reasons for Trade:
1. Have retraced to areas of .618-.786, and to + .786
of its range from IPO high and most recent high, respectively
2.At volume high rn, break back into value, and held for 2 consecutive 30m candles,
suggests price will revisit...
support at previous resistance, 50MA
very small wick shows good support & buying confidence.
expecting a good bounce up, best case aim for gap fill & forming a new trading zone between 34 - 38
SPY keeps dumping and 50MA support fail to hold, and break down further to test 100MA at $33
View chart linked below. I don’t know how to force all days of the week on time scale so I charted Uber on a cryptocurrency chart.
Target price ranges between $63 and $90, but $66 is highly probable based on Wedge, EW, and Fib.
Uber is forming a classic bullish cup and handle pattern over the past month or so. Start a position now and add it to it as it crests rises to $38-$39 and then use the break through the round number ($40) to press or double down on the position. Uber is a good re-opening play and their investment in the food delivery/logistics business is supportive of the...