UPST - 10.24.2021UPST has been on strong uptrend, displayed by the expanding EMAs..
Falling wedge on daily to the 21 EMA, and previous ATH breakout area (Prior resistance = future support)...
Can be seen more clearly on the 65min or 195 min chart...
Use a breakout out of the falling wedge or 350-354 area as your entry...
Risk = 336-345 area...
UPSTD trade ideas
UPST Projections.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 is between now and 08/2022 for the cycle to complete.
Always do your own DD and pls add any corrections or comments to this thought.
Probably A Little ExtendedUpstart originated $2.8B in loans this most recent quarter. The current valuation assumes annual originations of well over $120B annually.
If you own Upstart, you are assuming traditional banks willingly cede loan originations to this company, and that Upstart originates ~18% of ALL PERSONAL AND AUTO loans annually. Both of the above are outrageous assumptions.
Also, from a technical standpoint, this thing is as overbought as they get.
Tough to short via puts, and man is there risk in short shares, but the bat seems REALLY high on this setup.
Upstart Move UpdatedThis Basically shows the potential for the Upstart to boom above $400, as it is in an uptrend for long-term holders. In my opinion, one more dip to $325-$330 will be there and if it won't go below that level of support then it will go up for a restest at the level shown. Even if it breaks below that will be for the short term, so consider it as an opportunity to buy. just an example.
$UPST Hight Tight Flag SetupYa I see $UPST and so does every kid with a trading account
Anyway - here's my take:
* High Tight Flag
* Vol pattern looks incredible & too perfect
* Today tight candle and vol drying up to its lowest since earning gap
* Best scenario? Market pulls back next week & $UPST tightens more
DMT ChartThis chart is intended for DM Tribe members.
This allows you to see which Simple Moving Average the closing price is following.
Per our rules, a stock is following a SMA when it closes above it for 10 days or more.
Once the stock breaks the SMA is following, ie closes below it, you can sell the remainder of the stock.
You don't need to follow this rule until you've already sold half at a profit.
strategy for UPST monday 09/27/2021(UPST buy price 330.00)
(UPST sell price 323.00)
strategy: our bullish entry above 330.00 with the break of the high 337.23 with possible profit taking in the area of the double top 346.00. If it breaks the double top and the 347.00 we wait for confirmation to enter again.
for bearish entry: slight divergence between the charts 5mn bearish and 15mn bullish, buy zone at 325.00. if the opening is in the buy zone to go down we must wait for the penetration of the sell price with possible profit taking in the zone of the mv 200 in 15mn
UPST: Clean regressionUPST: Clean regression channel validated with a >10% move to the upside today. Recently received an adjusted PT to $345 from $280 via Barclays and expansion with more banks. Profitable growth and favored guidance supports technicals for continuation here to PT in $340's range. Fun thesis to watch pan out if you snagged this early // Beta: 1.373, ATR: 17.93