🔸️Ticker Symbol: $UPST 🔸️Timeframe: 4 Hour 🔸️4X Bear Pattern 🔸️Investment Stratey: Short
TECHNICAL ANALYSIS: Upstart after having a massive rally earlier in the year has been beaten down month after month. We are currently trading in a bear regression trend, our money momentum is shifting out of the market and we have a red EMA crossover to the downside. I do...
Upstart Holdings - Short Term - We look to Sell at 91.86 (stop at 110.36)
Bespoke resistance is located at 120.00. Closed below the 20-day EMA. Our overall sentiment remains bearish looking for lower levels. Previous support located at 45.00. Further downside is expected and we prefer to set shorts in early trade.
Our profit targets will be 45.80 and 37.10
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$UPST had a bad report for earnings gapping it down. Saw some big selling going on today with buyers stepping in for tons of bearish flow. I will look for more continuation on this to the downside tomorrow.
Ticker: $UPST
Entry: 229.50
Targets: 225.25, 218.50, 210.50, and 200
Stop Loss: 15%
Will update in PM.
These aren't accurate to time but to patterns visible on the monthly and weekly time frames.
UPST is following the Elliot Wave cycle and so far, Wave 3 is in the extension zone. I project a completion of the extension into earnings and a retracement for wave 4 anytime after that. Once that retracement is done, wave 5 will push us even higher. My current timeline...
