UPWORK has created an inverse head and shoulders pattern. Suggesting an primary price target of $35 (100%). Once the H&S has finished, perhaps a retracement of a golden pocket before next move.
As shown, beautiful EW structure. Still has a little more correcting to do, but should provide an amazing opportunity soon. Will be tracking very closely and may take a position.
Showing a weekly small double bottom here. Daily buy volume came in on that area. We need to see a break and hold above 19.10 as if this falling wedge wants to break to the upside could taget 28$. Of course in this bearish market upside is hard to imagine Howver that volume coming in is surprising would at least have to stoploss below the second low of 16.96
upwk approaching its last line off support. If we bounce here and break 39.71 my price targets are 50.39-58.98
below 30 theres not much support and we can hit 18.73
staying neutral until we see a clear break to either direction.
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a bit of technical, a bit of fundamental analysis
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UPWK at a potential buying point. Found support at a long term trendline + 1 year out/post gap up (also where significant price action begins) Anchored VWAP. New pivot low would also align with the previous distance between pivot lows. This also could be the end of an ABC corrective wave, setting up a potential new move to the upside. Bullish RSI divergence is...
Update on UPWK trade plan. Trimmed position to lock in some profits, still holding shares long. If we see a nice pullback, I will consider adding shares.
Expecting a pre earnings pullback, then run after earnings. UPWK dropped despite a double beat upon Q1 and Q2 earnings report due to guidance that hyper seasonality factors would decrease screen time. However increasing jobless claims and a study of travel data leads me to believe that this was purely a Q2 concern, where there was a sharp increase in travel...
UPWK thesis play, 63$ PT based around fundamental analysis. TA aligns with price target. Entry points marked by green arrows, potential areas to size out marked by red arrows.
I like Upwork long term (use their service as a consumer too), here is my plan to pyramid into shares. I will buy in 4 tranches and then have a pre-defined level where I will buy protective puts. Max loss is about $6/share average after all 4 levels are filled -- before it hits the insurance level.
Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The company was founded by Odysseas Tsatalos and Efstratios Karamanlakis in December 2013 and is headquartered in San Francisco, CA.
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