Looking Bearish on UBER.
Hello everyone, thank you for taking time out of your day to read my analysis on NYSE:UBER.
As you can see here on the daily chart, we are approaching a major supply zone. We are also very over-extended from the 200 EMA, extremely oversold, and it looks like the buying pressure on the MACD is slowing down. Now, all I would wait for is a big push (a strong bearish candle) out of this zone with a good amount of volume to verify the rejection. I would look to swing trade this position. As you can see here on the chart, the green line would be my Take-Profit because it was a previous point of resistance that we blew through. As always, again, thank you for reading and looking at my analysis on this stock. Merry Christmas and may God bless you and your family.
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