UBER trade ideas
UBER Trade Update (3rd part scale in )Our UBER Leaps has gone ITM we are updating the current breakout pattern. To the minor time frame, a minor corrective wave (ii) into 41-43 level before UBER sets up for another run completing an impulsive 5 waves higher into 2021. Will be looking to establish more longs if UBER drops into 41 with some Leaps.
$4 Decrease In Share Value In A Single DayAs you can see in the price history, Uber has made some big day over day gains. $2-$4 gains at a time. This means that it could easily fall $2-$4 day over day back to a normal RSI. Uber just launched out of control and is on its way back down. I would not be surprised if we saw a single drop up to $4 in a single day.
Uber Daily Candlestick PredictiomThis is my candle stick prediction for Uber for 11/11. I will keep this segment going until I my accuracy falls below 50%.
Still Room To FallI've been looking across a lot of candlestick time frames and all signals are still showing signs of decline for Uber. I am up 40% on my position, will be holding another day. Will be holding until I believe we are near a low. I do not see this stock going up tomorrow.
UBER Too Far From SupportUBER is very far from its support zone. With 2 sell signals from Divergence+ ( so accurate it cost a subscription ) and the support zone being at 41.82 a share. We can expect the stock to fall below my target price of $45 a share this week while staying above support at a healthy price.
This could be my 2021 Jackpot; Along with Pot StocksUBER.
I am seeing Uber is crafting the same chart pattern as PTON.
The stock price movement has been resilient. It performed better than I expected. With the California legal issue out of the way and Uber Eat performing spectacularly, this should jump to triple digit in stock price.
Keeping It CleanThis chart is free of clutter, I would just like to show the sell signal on the 4Hr. I have purchased 75 contracts for UBER to hit $45 a share by next Friday. If it hits that strike price at any point between now and then I will be selling my position.
This is not just a single sell signal, there are many sell signals on every chart from the 1min to the 4hr and Bollinger Bands are giving sell signals on every time frame as well. With an extremely high RSI we can expect UBER to drop.
UBER To Test ATHThats right I called UBER's pop a few weeks ago and now judging by price action and volume it is looking that it will test its all time high.
UBER Over Bought UBER is extremely overbought. Here is a breakdown of the technical indicators and my plan.
With an RSI of 91.04 for the last 14 two hour candles it's a given that UBER is madly overbought.
However, Bollinger bands have not crossed in a downward direction giving a sell signal, and the MACD shows some room to grow still. Unless the downward curve happens during the first two hours of Mondays open.
This stock remains on my watchlist and I will most likely be shorting once I get a sell signal on both the Bollinger Bands and MACD.
UBER: Ascending Triangle, confirmedAscending Triangle, Confirmed
Pros:
Descending volume during formation
Peak volume at break out
PPS above 50MA and 200MA
200MA ascending
250RSI above 50
RS ascending and above 0
ATR ascending, more volatility
R/R ratio above 13
Cons:
Currently hitting resistance at 45$
If it breaks it, no resistance above.
PT = 56.20$
Uber: get ready for an exciting ride!UBER has been pushing for a breakout for sometime now. check out our previous posts linked below.
this week had couple of great signs (of strength) - the reaction to the California law suit and the reaction to qtrly earnings - but even before that, price action indicated the persistence of UBER bulls and the "drive" to move upward.
what the chart tells us?
we have a positive momentum that is still building (weekly) and a good buy pressure/demand - this set up is more for the mid to long term (6 months+) , and as long as UBER bulls can defend the new price range they just gained, and stay above $40 we're looking at a possible continuation to the upside. if the move up materializes, our next target is $47 then a calculated projection to the $53 - $55 range. a possible ~23% upside.
(visit this post in future and use the "Load New Bars" tool to see how accurate were these projections)
Note: we need to be extra cautious with trading these days - everyone is looking at riding the next "Zoom" with a lot of Pump & Dump going on - and the market is in a volatile phase - please manage your risk accordingly!
best of luck,
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How do i read this chart setup
we look at the price action (top chart) and recent key S/R price levels, plus the insights from 3 key elements: momentum, sentiment and buy/sell pressure
- the calculated short-term price momentum is shown by the UTO blue/amber line
- the long term sentiment is represented by the UTO Green/Red area graph - the demand/supply pressure is expressed by the v.viewer green/red area graph - let's call these "the context"
How do i trade this chart setup
- the Basic rule: nothing can predict what happens tomorrow - but if no external catalysts interfere, it's *highly probable* that a price move with strong momentum that's in alignment with the broader context (sentiment and buy/sell pressure) would continue in the same direction (e.g., a breakout).
UBER is a buyA close above 38.50 (daily) sends UBER to new highs IMO
Zooming in on the 1hr shows an imminent breakout on the intra-day time frame:
UBER - daily inside candle - 11/5/2020setting my alerts at the top and bottom of todays candle. if it breaks with volume, i'll be playing it in that direction to my target
$UBER longs need to not fail in this res zone, hold the fib!Looking at $UBER we have made a significant long breakout of angular res but we really need to not fail in the same spot as last time. Hold the fib zone and keep the momentum hot and we should be approaching ATHs again.
UBER - The tech keeps on going...Having the opportunity to work closely with the commercial auto industry gives me a greater perspective on how ride-sharing service companies have changed the way in which we use transportation. Ride-sharing service companies are no longer limiting their services for the transportation of people, food and product delivery have gained strength as additional revenue streams for these companies. Matter fact, revenue from delivery services increased about 70% according to UBER's Q2 results.
According to sources, about 50,000 people on a monthly basis submit applications to become drivers in the main ride-sharing service companies such as UBER and LYFT. Besides potential solid fundamentals, UBER stock has been respecting the technicals beautifully.
