Uber Expands Waymo Driverless Rides to Austin and AtlantaUber Technologies Inc. (NYSE: NYSE:UBER ) is making waves in the ride-share and autonomous vehicle industries with its latest announcement to expand its partnership with Waymo, the self-driving car unit of Alphabet Inc. ( NASDAQ:GOOGL ). Starting early next year, Uber plans to bring driverless Waymo vehicles to Austin, Texas, and Atlanta, Georgia, as it continues to lead the shift toward autonomous mobility. Here's a closer look at Uber's fundamental developments and technical outlook following this major expansion news.
Expansion into New Markets
Uber’s partnership with Waymo will see the deployment of fully autonomous, all-electric Jaguar I-PACE vehicles in Austin and Atlanta. This follows the initial rollout in Phoenix, Arizona, where Uber has received positive feedback from riders. By managing and dispatching Waymo’s fleet, Uber aims to grow the number of driverless vehicles in these cities to hundreds over time, enhancing the ride-hailing experience and setting the stage for more widespread autonomous vehicle adoption.
Growing Partnerships
This partnership underscores Uber’s strategic pivot to leverage external autonomous technology providers instead of developing its own self-driving units, which it sold off in 2020. In addition to Waymo, Uber is collaborating with General Motors' Cruise, which will add its self-driving cars to the Uber platform next year. These partnerships align with Uber's broader goal of converting its fleet to green energy, enhancing sustainability while tapping into cutting-edge technologies.
Financial Impact and Market Response
Uber shares (NYSE: NYSE:UBER ) spiked 5% to $71.55 following the announcement, signaling investor optimism about the company’s future in autonomous ride-hailing. The expansion into Austin and Atlanta comes at a critical juncture for self-driving firms, which face regulatory scrutiny over safety concerns. However, Uber’s careful integration of Waymo’s proven technology could help mitigate these challenges.
Uber’s stock performance has been strong this year, with shares climbing over 16%. This growth reflects confidence in Uber’s adaptability and future earnings potential, as it continues to diversify its services and expand its market reach.
Technical Outlook
Technically, Uber stock (NYSE: NYSE:UBER ) shows strong momentum, with the price trading above key moving averages—the 50-day, 100-day, and 200-day MAs. This alignment suggests a sustained bullish trend, reinforcing positive sentiment among investors. The Relative Strength Index (RSI) is at 54.35, indicating the stock is neither overbought nor oversold, leaving room for potential upward movement.
Key Support and Resistance Levels
Uber’s current support level lies around the $67 mark, a crucial pivot point that has acted as a foundation for recent gains. A dip below this level could trigger a pullback towards the one-month low of $54, corresponding with the December 2020 pivot. Investors should watch this level closely, as a breach could lead to a deeper correction.
On the upside, resistance is likely to be tested around $75, a key psychological and technical barrier. Breaking above this level could see the stock target new highs as Uber (NYSE: NYSE:UBER ) continues to benefit from its autonomous vehicle strategy and market expansion.
Investor Outlook
Uber’s expanding partnerships in autonomous driving position it well for future growth in the ride-hailing sector, where innovation and technology integration are paramount. The positive technical indicators and supportive fundamental backdrop create a favorable environment for potential gains. However, investors should remain vigilant to key support levels and broader market conditions, which could impact Uber’s stock performance in the near term.
Conclusion
Uber’s commitment to scaling its driverless car offerings through partnerships with Waymo and other autonomous vehicle providers marks a significant step in its evolution. As the company expands into new markets and enhances its technology offerings, Uber is poised to solidify its position at the forefront of the ride-sharing and autonomous mobility revolution. With promising technical signals and robust market strategies, Uber remains a compelling stock to watch in the autonomous vehicle space.
Ubertrend
Uber has engaged in a long short battleUber has engaged in a long short battle
This chart shows the weekly candle chart of Uber Company's stocks from the end of 2020 to the present. The top to bottom golden section of February 2021 is superimposed in the figure. As shown in the figure, the lowest point of Uber's stock in June 2022 hit the top to bottom golden ratio at 3.272. The low point in May this year and the high point in June are also the top to bottom golden ratio at 2.000 and 1.618, respectively! In the past 9 weeks, Uber's stock has engaged in a long short battle against the top of the chart against the 1.382 position in the golden section, without a clear choice of direction to break through!
Uber Long -- Expecting bull expectation for next quarter? Currently, Uber is looking bull and ready to pick direction. Most likely upwards towards $29/31/33.
Observe later this week for more movements to decide direction.
If earning /forecast not good, could go downtrend towards $21.60/70 for support.
Uber Technologies: downtrend on the wayAlthough it's true investors are buying around these levels, the price keeps falling around the downtrend channel. Good buying opportunities are found on the lower part of the channel. It's a good opportunity for a buy-and-hold strategy, but the incoming FED intervention on interest rates hikes could pose a tremendous risk on the short term in all stocks, so care with volume. In terms of fundamentals, Uber has improved a lot and reduced losses considerably, financial and operational results were positive this last Q, way better than those of 2020. The best strategy is to buy the dip. So analyze the financial results of 2021, compare it to 2019 and 2020 and place your bets! I'm pretty sure this one is gonna perform really well in the coming years, but it's all about timing. If indices fall, we will find a great opportunity on this one!
Missed the UBER IPO? You can buy it for less nowUBER Q4 report:
earnings of 44 cents per share VS expected -33 cents
$5.78 billion VS $5.39 billion expected.
Q4 Gross Bookings outpaced expectations
Delivery and Trips came up a tad short estimates.
Freight $1.08 billion VS $807.8 million expected.
My price target for this quarter is the IPO price, $45.
Looking forward to read your opinion about it.
Uber Analysis 30.01.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
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UBER Daily TimeframeSNIPER STRATEGY
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UBER - Buy The Dip Hi, this is my update for UBER. In the last 3 days UBER has fallen more than 20%, we have lost the SMA50 and SMA100, but I think we have now reached the bottom, since we have support level around $45.90, SMA200 (46.74) and RSI is now under 30 so that means that UBER is oversold and it is time for shorts to cover in. So be prepared and don't PANIC ;)
UBER - Rising WedgeThis usually occurs when a security’s price has been rising over time
The trend lines drawn above and below the price chart pattern can converge to help a trader or analyst anticipate a breakout reversal. While price can be out of either trend line, wedge patterns have a tendency to break in the opposite direction from the trend lines.
Therefore, rising wedge patterns indicate the more likely potential of falling prices after a breakout of the lower trend line. Traders can make bearish trades after the breakout by selling the security short or using derivatives such as futures or options, depending on the security being charted. These trades would seek to profit on the potential that prices will fall.
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Uber: Coffee! Watch out for continuation.It's been exactly 1 year -to the day- since I published the last analysis, so here is to the anniversary .
UBER saw a huge breakout after Weekly Lower Highs :
After the breakout, on the smaller timeframe now, we're building a nice C&H pattern with potential for bull continuation.
Fundamentals: Think about which companies got disproportionately punished by Covid, which under normal circumstances is a standard on your home screen?
=> As Chamath Palihapitiya put it nicely just recently: If you're not ready to invest in the companies on your home screen, then what else?
😭 Sorry Guys... Kind Of Late On (UBER)💰 LET'S GET INTO SOME UBER ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- Man I wish I would of had checked this one on the daily chart about a week ago. Beautiful crossover Crossover ema dots played out. No worries, let's catch the new wave!
- We are getting a red Crossover with an engulfing candle, this would good be a good short but we need to consider how close we are to support. I would rather look for the breakout on the 31.50 support to go short for most likely a 10-13% play to the next low.
- We so have one previous touch at 31.50 and rebounded but not by much! Let's see how it holds up. If it did hold and compressing with a green Crossover we will go long based off of the fact we did have that recent support.
- All 3 ema dots are firing red.
Drop your chart below in the comments section and share with us what you think will happen next! ❤❤❤
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🥇MLT | MAJOR LEAGUE TRADER
UBER - Pullback coming soonHello,
I made this graphic showing you the top support that when uber hit it will pullback to the bottom.
I recommend you to buy on the indicated zones.
Thanks.