UPST is at a crucial moment right now. Since the earnings gap up and run a few days ago, it was brutally shorted to current support levels. We saw this confirmation via a small bounce on Friday.Frankly speaking, it could go either way at this point. With the Russia-Ukraine situation, it would be advisable to enter at a stronger area of value (resistance/support) to capture better Risk-Reward setups due to the volatility of the market. After all, any news could propel prices either direction.
While there are 2 possible entries for
UPST, I'm personally looking for short opportunities. An entry at Short Entry #2 would be ideal, as the strong resistance level could possibly set us up for another double top. Time will tell and I'll be watching UPST over the next few days.Happy trading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.