UBER High Probability Bull Flag Here is a Macro break and retest weekly level with a Micro Bull flag below the 4h level showing us tomorrows move will most likely be bullish. Be cautious of bearish move/gap at open due to the high sell volume at close and be be patient for clear entry. Nothing is 100% in the markets.
Ubersignals
UBER is still bullish short-termUBER had a massive price jump yesterday after the upbeat earnings and is approaching Resistance 1 (37.50), which rejected the February 08 High. That was the last Higher High of the Channel Up pattern that started after the June 30 bottom.
We expect this trend to continue for a new Higher High at 39.00. If we get a 1D candle close above the Channel Up, then we will resume buying targeting the Resistance 2 at 42.50. If the top of the Channel Up rejects the price we will wait for our next buy on the 1D MA200 (orange trend-line) near the bottom of the Channel. Note also that if the 1D RSI gets rejected inside the red circle as the previous two Highs did, it will be an additional sell signal.
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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.
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