UPST ready to run higherUPST 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.
