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Uber

UBER Drives into a Wall of ResistanceUBER, a platform that provides ride hailing, food delivery, and package delivery as a service, started its downtrend before the major US equity indices. UBER's all-time high occurred on February 10, 2021, almost exactly two years ago. UBER proceeded to carve out lower highs and lower lows for quite some time afterwards, the very definition of a downtrend. But it has not undercut its June 2022 low yet. Since the June 2022 low, UBER has formed a series of higher swing lows and higher highs. This forms an uptrend at an intermediate level of trend. However, this uptrend could be part of a larger-degree downtrend. For example, it could be a correction at a larger degree than the prior corrective moves within a downtrend. The downtrend in UBER might be just getting started with the move from the all-time high to the June 2022 low being the first major leg down. The corrective move could be the first major retracement (with all the other bounces constituting smaller degree corrective retracements). To illustrate without getting into the nitty gritty of wave-counting (which often ends up wrong anyhow from this author's experience, which includes seeing EW experts' wave counts consistently being wrong and reworked), assume that the downward move from the all-time high to the June 2022 low is a larger-degree corrective wave A (which itself is composed of smaller subwaves within wave A that alternate between impulsive and corrective). If the downward move in UBER is a wave A (or wave W) at a larger degree of trend, then the current retracement could be a wave B (or a wave X) that retraces 38.2%, 50%, or 61.8% (or more perhaps) of the first major leg of the decline, the prior wave A in our assumptions. If this is case, a less steep downtrend line may be in the process of forming. But this is all speculation at this point. The macro environment, including rising terminal Fed Funds rates, gives a hunch that this might be the case, however. In short, UBER's upside breakout from its downtrend line may be part of a large-scale corrective retracement that sends price to new lows. This won't be clear until the retracement is more or less completed, and then the reaction lower either retraces that move or closes in on new lows. Traders don't necessarily need to know whether new lows are on the way to find levels where UBER could reverse and stall. This analysis points to UBER's price reversing soon (in several days to a couple weeks). The rally is running out of steam. The first downside target is $32 (conservative) , which may be reached by March or April 2023. Depending on how price behaves on the pullback, this post may be closed after the first target is reached. The second downside target is $27 (aggressive), and this will likely take a bit longer to reach than the conservative target, and this target is not viable unless the first target is convincingly reached and held (below). The final target would be the lows from June 2022 (most aggressive) at $19.90. The main technical-analysis points are listed below: The yellow parallel channel defines the rally off the June 2022 lows. A convincing break below the lower edge of this channel will be good confirmation that price may retest (or break) the current lows. UBER is closing in on the top of this yellow uptrend channel where it is oversold within this intermediate-term uptrend. At prior tags of this channel's upper boundary, price has reversed. However, price can overthrow a channel boundary in its final move upward at times, so be alert to that possibility. In addition to being near parallel-channel resistance, UBER has traded into the center of a major support / resistance zone (now resistance, previously support) that goes back to UBER's first days as a publicly traded company. See the blue rectangle on the Primary Chart above. This blue rectangle of support / resistance also coincides with a key Fibonacci level (purple line) shown on the Primary Chart, the .382 Fibonacci retracement at $36.76, which was reached this week along with the blue rectangle. The Fibonacci / measured-move projection of 1.00 (where the first move off the lows equals the second numerically) lies at the blue 1.00 line at $39.58. This seems like a good spot for UBER to reverse. This area is highlighted with the larger teal-blue circle. Next is the Fibonacci 50% retracement of UBER's bear market at $41.97. Sometimes, when a move exhausts, an asset's price does a "throwover" above the top of a parallel channel. This is where price pushes to an extreme, often above the level of a return line—the parallel channel's top line. This is why it's never wise to do a YOLO play throwing all your chips in with leverage at one spot that seems like a reasonable reversal area. Throwovers and whipsaws occur. Markets surprise and inflict pain constantly. But the more precise the entry, and the more well-defined the risk, the better the approach. The last level to watch for a reversal, though it seems unlikely in this macro environment to be reached, is the .618 retracement of the entire downtrend. This level equals $47.18 and coincides with another Fibonacci level (1.272) at $45.91. SquishTrade expects a reversal soon. Whether UBER reaches new lows, or simply retraces to the lower boundary of its parallel channel, remains unknown. No bold predictions in that regard. However, price could do a couple different things on this pullback. It could retest lows or it could bounce off the lower edge of the parallel channel, which is an uptrend line (yellow parallel channels' lower uptrend line). See Supplementary Chart A below. Log-linear regression channel supports a downward bias here. See Supplementary Chart B below. But short traders may want to avoid shorting until price confirms the downside move. There are many ways to look for confirmation. One way might be to avoid shorting until price breaks back below the anchored VWAP from the all-time high. Another approach might be to look for a break back below a key support / resistance level on a daily close. There are many other approaches technicians and traders can use. Two of DeMark's indicators are approaching exhaustion on daily and intraday charts. Weekly charts require a few more weeks of higher highs before weekly exhaustion can be obtained, but that might not fully play out if price reverses at key technical levels before several more weekly up closes. Supplementary Chart A Hypothetical price paths illustrating that price could bounce off parallel channel's support and continue its corrective rally, or it could break that uptrend and head to new lows Supplementary Chart B ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NYSE:UBER
by SquishTrade
7
LYFT SWING TRADE IDEAAfter news came out about their new initiative to give people on the way to a job interview a free ride, my eyes have been on LYFT. I immediately took note of their fundamentals.. whew! In its history, its only missed earnings twice! In my opinion, LYFT has longevity potential! With earnings coming up next Thursday, I love the position this stock is sitting in right now! It has come to meet a major supply zone and the primary trend line, around 17.45. A break and retest of this zone and I will look to take it up towards 20.50. If we reject this supply zone and trend line, I will look to take it down towards 13.85
NASDAQ:LYFT
0
by WSBB
2
UBER 10 FEB 32/17 FEB 30 DIAGONAL CALLBULL PULLBACK SETUP Detailed definition of setup and what market conditions are desirable: I've had UBER on my watchlist since about the end of December. And since about August of 22', it's kind of been trading between 31.57 and 26.06. So I was curious to see if it would make it's way back into that sideways channel and so we're here now. And even though overall market sentiment is bearish, UBER has had good momentum to the upside since the end of December. Detailed Definition of the trigger (entry point) used to enter position: On January 18th, UBER made a new swing high so I was anticipating a pull back to come. The 19th it retraced back to a support/resistance area of 28.36. I placed an alert to notify me once it traded above the 18th's high which I set at 29.29. It triggered this morning. Detailed Definition used to determine Stops (abandon or adjust) No stops. I'm set up for max loss risking less than 2% of my portfolio. TRADE SETUP Uptrend: Stock made a new swing high on the 18th. It's also trading above a rising 50-day SMA. The pullback brought this back to prior support/resistance level of 28.36. On the pullback, there was lower or equal volume on pullback and I'll be using yesterdays candle as my reversal candle at area of support of 28.36. How strike prices and expiration dates are selected Let's take a look at the hour chart. I drew a trend line from the low of the 27th, and the low of October 11th 2022. I was debating on which strike prices I wanted because there wa an option of a strike price of 31.50. But I decided to go with the 32 strike because I anticipate that it will want to blow through the 31.57 zone I have, and do something similar to what happened between September 9th 2022 and September 21st 2022. uber announces earnings February 8th so I went with the Feb. 10th expiration with the anticipation that this will run up higher going into earnings. So I plan on closing this out no matter what before the 8th. Position management strategies when the stock goes lower If this goes lower, I'll just let expire worthless and move on to the next trade. I'm set up for max loss Position management strategies when the stock goes sideways If this goes sideway I'd be ok with that. It would have to trade between 30.05 and 28.36 but then I'd want to see this run up before earnings. If it just stays in this range for the next three weeks, I'll let it expire worthless and move on. Position management strategies when the stock goes higher Ok, so if this thing blows through 31.57 before February 7th, I'm going to hang on to this to see if this drifts back down to the apex of the trade. But if it decides to hang out above 32 by Feb 7th, then I'll close out the entire combo because I don't want to keep this going into earnings. Position management strategy at expiration I'm not going to hold this until expiration. it needs to be close out on, or before February 7th.
NYSE:UBERLong
by MMOTA_
UBER, 10d+/-32.23%falling cycle -32.23% more than 10 days. ================================================================================================================================================================== This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
NYSE:UBERShort
by Tonyder
$UBER Analysis, Key levels, and Targets $UBER Analysis, Key levels, and Targets SO yesterday when I gave my UBER target I calculated it on the wrong timeframe… ooopsie… so the 28.02 I just cancelled… sorry about that, y’all… 😬 I actually make more mistakes than I care to admit... I just now put in a buy order at 26.59 in it’s place…. Something did feel off last night and if i had just lined it up with the option chain I would have noticed right away... but I was working so fast…. —————— If you used the strategy I did a bunch last year and the year before that then this will look similar… Basically every night I will be updating the new buy order for the next day… each day I will be adding 10 shares at the buy level (please modify this to your account size if you want to play, there is nothing wrong with trading one at a time until you see how the strategy works) I will be using options at levels where I see fit but right now I’m losing out on some really great opportunities by not having these orders in place like I used to… And if you guys haven’t seen this strategy before… you’re in for a treat… it might take a few weeks for you to see what I’m doing but once you see you’ll see how easy it is… Always make sure to select GTC (good till cancelled) on your buy orders, and you might have to select advanced order to add an expiration date to your order. And have fun, y’all…
NYSE:UBER
by SPYder_QQQueen_Trading
1
$UBER Analysis, Key levels, and Targets $UBER Analysis, Key levels, and Targets I really like UBER. For many reasons. I really like how it’s been kind of respecting that 200MA 🤓… I have been selling UBER puts lately… and in general I want to be long here long term… so, I don’t know what I’m getting at but I’m buying shares here tonight… LOL… without a doubt I’ll be selling options at some point again here just not tonight, and not here… Tonights buy order at 28.02 (x10) locked and loaded… —————— Super excited to get back to one of my old strategies, but slightly modified… If you used the strategy I did a bunch last year and the year before that then this will look similar… Basically every night I will be updating the new buy order for the next day… each day I will be adding 10 shares at the buy level (please modify this to your account size if you want to play, there is nothing wrong with trading one at a time until you see how the strategy works) I will be using options at levels where I see fit but right now I’m losing out on some really great opportunities by not having these orders in place like I used to… And if you guys haven’t seen this strategy before… you’re in for a treat… it might take a few weeks for you to see what I’m doing but once you see you’ll see how easy it is… Always make sure to select GTC (good till cancelled) on your buy orders, and you might have to select advanced order to add an expiration date to your order. And have fun, y’all… 💃🏻
NYSE:UBERShort
by SPYder_QQQueen_Trading
3
Uber Share is Testing Its Major Support LevelUBER share price is going in an unclear trend in general, with many bullish and bearish price gaps, which it is soon to fill quickly, and it is currently trading at the bottom of a narrow and sharp descending channel extended since the beginning of November. On the other hand, UBER share is trading below the short and long-term exponential moving averages, in a severe bearish sign at the moment. As for now, and on the daily chart, we keep an eye on the support level of $26.30, in case the UBER share price fails to stabilize above this level, we may witness another pullback towards the level of 24.66. On the flip side, if the UBER share price was able to recover the EMA-25, then we target the return of the UBER share price to levels of $28.83-29.73 (the shaded area in yellow). If UBER share price manages to recover the EMA-200, we may also witness a recovery of 33.13 level in the coming weeks or months.
NYSE:UBERShort
by SamerHa
UBER Break-out above the Bull Flag. $34.20 and $38.00 eyed.Uber Technologies (UBER) broke today above the Bull Flag pattern os September and at the same time the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). By doing so it reached the 1W MA50 (red trend-line) for the first time since September 15 where it had an emphatic rejection. Today's break-out is major as the 1D RSI also broke above its Lower Highs trend-line, so we turn bullish again on Uber, targeting the $34.20 Resistance and if we close above it, then the 1W MA100 (green trend-line) in extension around $38.00. Our long-term target for this stock is $48.50, which is the -1.0 Fibonacci extension and interestingly enough, happens to be below the October 2021 Resistance. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:UBERLong
by TradingShot