UBERD trade ideas
will UBER reach new highs, hold support at 48 range, or fall?If UBER doesn't hold new support at 48 range it could fill a large gap back down. potential short if UBER doesn't hold support at this high level.
Uber: Grab some butter, Uber is toastIn the near term, expect a correction that might dip as low as the bottom price target followed a consolidation centering on the higher target of $36.
After Uber has finished its correction, expect it to target $60+.
Basis for analysis
Uber has finished or is finishing an Elliott Wave cycle Wave 1 following a leading diagonal structure. As depicted, the wave comprises a primary, uptrending ABC structure consisting of two minor, uptrending ABC structures and an intermediate, downtrending WXY structure. Also, Uber continues to be Overbought.
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?
UBER Long1) BO neckline of double bottom
2) Volume buying coming in
3) Tight squeeze (red dot)
4) Bright first green histo
5) MACD to golden cross
6) Dark red histo gets smaller
$UBER$UBER made a nice move after a breakout from the cup and handle pattern.
It filled the last gap created by it. It seems the pullback is over and likely to resume the journey.
The entry and exit are marked on the chart.
UBERI can see UBER coming back down to previous support of $41.99 before continuing forward to over $50. Price is too far away from middle Bollinger Band line to continue. Hence the retrace back to previous support. Fee free to comment and share
Currently shorting UBER but overall I suggest this is a long term long position
Uber (UBER): BUY at $40 - Elliot WaveUber (UBER) seems like is currently correcting at the 4th wave of its 5 wave structure, it's likely to correct to the 0.382 retracement level of its 3rd wave to $40 ish before UBER shoot up to its 5th wave target, also, we do have the previous pivot high at $40 as the support which was all the way from June. Thus, look for a correction to $40 ish and add for $55 ish target price, thanks.
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.
