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Uberforecast

Uber has bottomedCapitulation followed by massive volume at around $25.50. Double bottom circled in green. Gap to be filled around $41. Small gap to be filled circled in yellow. Yellow trend-line with confluent are at the gap fill. RSI has some room before it hits the yellow RSI trend-line reinforcing the idea of a gap fill n' go. Fundamentally speaking, news co-founder has been liquidating all his shares but price has not tanked on this news. Just like Facebook and alot of early tech stocks we saw a selloff after the IPO hype and rally after the haircut. Like Facebook, UBER is already ingrained in much of our lives and it is hard to believe it will be gone so soon. Tell me what you think.
NYSE:UBERLong
by ceesounds
2
UBER SHORT to $20, former CEO dumps shares! UBER has been on a strong downtrend since the IPO, the company has not yet turned a profit and expenses are through the roof with little hope to switch to the long side in the near future. To add to that the co-founder and previous CEO Kalanick continues to dump shares, another +$160 Million worth and the stock continues to trend lower while volume to the sell side increases. The previous broken low at around $30.00 held as resistance on a retrace and the rotations indicated a continued short where price fell from, price is not at an all-time low anymore where support lies. The IPO to date POC is at $26.85 which is going to be strong support but there is a strong chance it break and price moves into the expansion level at $22.00. We just need to break through the support barrier. The price is at the top of the downward channel which is holding resistance. Disclaimer: This idea is for educational purposes only, this does not constitute as trading or investment advice. TRADEPRO Academy is not liable for any market activity.
NYSE:UBERShort
by TRADEPROAcademy