Upwork Inc.Long
Gig Economy here to stay! Buy UPWK
Bull Case:
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
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.