Hi guys! This is a Macro analysis on Upwork (UPWK). Macro meaning larger timeframe aka the 1 week in this instance.
Alot of stocks are down fromt heir previous tops. Which means potentials for longterm gains for many names are possible. I try to make sense if things have the technical signs to buy or not.
For UPWK -> some interesting signs were observed. It was...
If you haven`t bought UPWK ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of UPWK Upwork prior to the earnings report this week,
I would consider purchasing the 12.5usd strike price in the money Calls with
an expiration date of 2024-3-15,
for a premium of approximately $2.55.
If these options prove to be profitable prior...
Upwork (NASDAQ: NASDAQ:UPWK ) has emerged as a standout stock, gaining significant traction in the market after a noteworthy upgrade from Jefferies, shifting its rating from Hold to Buy. This upgrade has sparked a 10% surge in Upwork's stock value.
Accelerated Revenue Growth in 2024:
The driving force behind Jefferies' bullish stance on Upwork lies in the...
Key Highlights:
Significant Growth in AI Job Posts: Upwork experienced a remarkable 1,000% increase in generative AI job posts during Q2 and Q3 of 2023.
High Demand for AI Skills: Searches for generative AI skills surged by 1,500% during the same period, indicating a substantial demand for AI-related expertise.
Strategic Collaboration with OpenAI: Upwork's...
Upwork is at fair value now, cheap for next year, and potential could grow to a 50-100$ stock over 5 years.
Upwork is a freelancer marketplace and recently partnered with Open ai (chat GPT) to provide enterprises access to ai freelance experts and learning.
Better value then megacaps:
Upwork roughly has a earnings yield of 3% plus for this year 2023, which is...
Analyzing the options chain and the chart patterns of UPWK Upwork prior to the earnings report this week,
I would consider purchasing the 10usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $1.92.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to...
Wyckoff Accumulation Schematic #1 almost complete on a short term timeframe.
Longer term..
Risk is 10%, reward is 120-200%.
Stop loss and invalidation are clearly outlined (at 10% below current price.)
Stock has formed a technical double bottom (textbook) over the last 4 months, and completed this formation with strong support yesterday.
Stock has inverse...
As shown, beautiful EW structure. Still has a little more correcting to do, but should provide an amazing opportunity soon. Will be tracking very closely and may take a position.
Upwork currently sitting in a huge ascending triangle on the daily w/ a double top.
The last month and a half for Upwork has been a struggle with price continuing down but with price currently at support it gets my attention.
Price closed up 5.84% on Friday with a huge engulfing which could confirm a rotation in trend.
We also can see the MACD curling w/ the RSI...
Upwork new price target: $ 65
When: Before March 8
Growth: 20.3 %
Buy: YES
If this is a real bottom, expect Upwork to continue up..
Trade at your own risks
$UPWK has been climbing steadily but the RSI and MACD are showing a Bearish Divergence Set Up
Even If the stock is a good value play - there is always room for capturing the volatility for profit
NASDAQ:UPWK
UPWORK was a major benefactor from the lockdowns earlier in the year, beating their most recent earnings by +59%. Although I do like the business structure of UPWORK and thing long-term this company will scale immensely, I also think that this most recent run was driven by the euphoric earnings beat.
From a technical standpoint, the 200 Day SMA is...
